01/08/2026
Maximize Tax Benefits: Home Renovation Guide
Home renovation expenses, such as repairing, painting, or renovating, are generally not tax-deductible for owner-occupied properties, but interest on loans taken for these purposes can qualify for deductions under Section 24(b) of the Income Tax Act. For let-out properties, a deduction of 30% of the Net Annual Value is available, which covers maintenance and repairs, regardless of the actual expenses incurred....