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13th May 2021, 05:37 PM
#1
Claim tax credits for interest paid in offshore bank
Hi,
I purchased a house in India two years back, I have been paying mortgage for it and when I purchased the house I also paid tax in India.
My questions:
1. Can I claim tax credit for the interest I pay to the Indian bank for the mortgage? I can show transactions that I have been transferring funds to the account.
2. If yes, can I also claim previous years tax credits. I might have possibly missed the chance
Sorry, If I am so naive about these tax implications.
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