Tax aspect on Income From House Property

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Alpesh Gala (Querist)
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18 February 2011 I have taken loan from My HUF for purchase house property & paying interest to HUF @ market rate. Can I claim deduction u/s 24(b) for interst paid . & also to get deduction u/s 80C on principal repayment.

Also Let me know is there is any moneylending provision applicable (RBI's regulation)

Guest

Guest (Expert)

18 February 2011 Interest on borrowed funds for house can be allowed u/s 24 but repayment of such loan will not be eligible for Sec. 80C.

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Alpesh Gala

Alpesh Gala (Querist)
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20 February 2011 can anyone tell about any moneylending provision if applicable (RBI's regulation)

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Guest

Guest (Expert)

20 February 2011 Please don't mix queries of different subject.

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