11 August 2009
A loan is taken by Father and father is the owner of House property but loan is repaid by son . who will claim the exemption .kindly refer the section ...................
what is the logic for claiming exemption kindly elaborate
11 August 2009
as per INcome TAx Act, the exemption of interest and repayment is allwoed to the person in whose name the property is registered. Also the same should be borrower/co-borrower of loan.
CAclubindia
