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Section 24(b)

This query is : Resolved 
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(Querist)
24 January 2012 If interest free loan taken from relative to purchase the house (for the purpose of residence) and later on another loan from bank or FI's to repay the part amount of loan which is taken from relative. whether Interest on loan can be claimed deduction u/s 24(b) under the head income from house property.
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
24 January 2012 Yes you can claim the interest paid so to Banks or Financial Institute....
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
24 January 2012 Hi Namrata

Yes you can claim the interest paid so to Banks or Financial Institute....

Becoz loan taken for repayment of existing loan (housing) is allowable...
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