What are the tax benefits of a home renovation loan?

In India, home renovation loans do not typically offer direct tax benefits like home loans for property purchase or construction. The interest paid on a home renovation loan is not eligible for a deduction under Section 24(b) of the Income Tax Act, which allows for the deduction of home loan interest for a selfoccupied or letout property.

However, if the renovation is being done on a property that is let out for rental purposes, the interest paid on the home renovation loan can be claimed as a deduction from the rental income under Section 24(b) of the Income Tax Act.

It's important to consult with a tax professional or accountant for specific details and to understand the tax implications and benefits associated with your particular situation and loan. Tax laws can vary and it's best to seek professional advice to ensure accurate and uptodate information.