• Aug 27, 2026
• 8 min read

Can You Claim Tax Benefits on Personal Loans? Find Out Before Your Next Income Tax Return

Can a personal loan reduce your tax liability? Learn when personal loan interest qualifies for deductions before filing your income tax return.

Taking a personal loan is common in India, but many taxpayers are unsure whether the interest paid on that loan can reduce their tax liability. The answer is: sometimes, but not simply because the loan is called a “personal loan.” For your income tax return, what matters most is how...

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