Currently I am living in rented house and we have a land and planning to build the house for our use. Can we take the house loan for the same? There is income tax benefit for housing loan and can we avail this?
Answer:
(Fatwa: 288/288/M=1433)
One has to pay interest in case of receiving home loan and hadith curses doing interest based dealing. Hence one should avoid taking interest based loan without exigent need.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband