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Repayment of Principal Amt. u/s 80C

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(Querist)
09 June 2011 Mr. X gives his son a loan to buy a house. Whether the son can claim the repayment of principal amount u/s 80C and interest u/s 24(b)?
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U S Sharma

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U S Sharma (Expert)
09 June 2011 interest may be claimed, but principal can not be, to claim the 80C benefit the loan must be with specified financial institution.
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CA Sumat Singhal

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CA Sumat Singhal (Expert)
09 June 2011 Agreed wih sharma ji..
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