FICCI recommends Centre to deduct interest on housing loan

FICCI recommended the central government to either remove the limit for deduction of interest on housing loan under Section 24 B or increase it from Rs 200,000 to Rs 10,000,000.  FICCI suggested the centre not to include principal amount of housing loan with other deductions under Section 80 C. FICCI said, ” Most of the salaried people buy a home by taking a housing loan and use their money to pay such loan. These deductions will increase their purchasing power, boost the real estate sector and economy.”