Taking Loan against property , option in new spp rules ?

[Shoeb_Shaikh]

Hi All,

1.If I take loan against property of 15 lacs=approx.( mine total course fees+ 10000 living expense)
pay fees and buy Gic from this loan amount.
Is this can be done according to new spp rules.

2.I have 8 lacs towards paying fees. Take loan of 7 lacs towards buying GIC and partly towards paying fees.
Is this also an option.

Help and give ur views on this.

Regards,
Shoeb