Princial and interest repayment on home loan
This query is : Resolved
05 December 2015
AN PERSON HAVE TAKEN HOME LOAN FROM DHFL BEFORE 5 YEARS, NOW HE AVAILED AN PERSONAL LOAN FROM HIS FRIEND AND REPAID THE DHFL OUTSTANDING LOAN.
NOW HE PAY TO HIS FRIEND AS EMI (PRINCIPAL + INTEREST) EVERY MONTH, IS THE PRINCIPAL IS ALLOWED AS DEDUCTION U/S. 80C AND INTEREST ALLOWED AS EXPENSES U/S. 24b?
NOW HE PAY TO HIS FRIEND AS EMI (PRINCIPAL + INTEREST) EVERY MONTH, IS THE PRINCIPAL IS ALLOWED AS DEDUCTION U/S. 80C AND INTEREST ALLOWED AS EXPENSES U/S. 24b?
05 December 2015
Only interest payment is allowed u/s 24b.
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