Deduction u/s 80c
This query is : Resolved
20 January 2012
Can a person get a deduction for the principal amount paid for housing loan taken for a property which is owned by his father?
That means, if a property is hold by the father, can his son take a loan for that property & claim benefit u/s 80C?
That means, if a property is hold by the father, can his son take a loan for that property & claim benefit u/s 80C?
20 January 2012
No. Deduction can only be claimed by the owner of the property.
For information read the article from below link---
http://taxguru.in/income-tax/faq-on-housing-loan-and-income-tax-benefit.html
For information read the article from below link---
http://taxguru.in/income-tax/faq-on-housing-loan-and-income-tax-benefit.html
Message likes :
2 times
21 January 2012
Agree with the expert
21 January 2012
Even if some banks agree for a joint loan, normally banks do not pass home loan if a person does not have any property in his name.
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