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Interest u/s 24(b)

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 January 2013 if my father gives me gift of rs. 5 lacs i transfer it to my smaller huf corpus n than i give it as loan @ 9% to my brother for purchase of house than can it be clubbed? if yes than in whose hand and can my brother claim deduction of interest paid in section 24(b)??
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@VaibhavJ

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@VaibhavJ (Expert)
02 January 2013 Hi,

As per 24(b) person paying Interest is eligible to claim deduction, so your bro also can claim.

Thanks!!

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