Deduction of income tax
This query is : Resolved
14 December 2012
Suppose Mr. A has a loan of Rs. 10 lacs from Bank. He dies after paying 5 EMI, Now the Instalment for that loan is being paid by Mr. B his son
My question is whether Mr. B shall be entitled for deduction/benefit of EMI paid by him in Income tax.
My question is whether Mr. B shall be entitled for deduction/benefit of EMI paid by him in Income tax.
14 December 2012
FOR WHAT PURPOSE LOAN IS AVAIL BY HIM..??
their is no clause in this regard. But if any income is generate from that loan amount (10 lakhs) and his son is receiving that income, then his son is eligiable for deduction of interest.
their is no clause in this regard. But if any income is generate from that loan amount (10 lakhs) and his son is receiving that income, then his son is eligiable for deduction of interest.
14 December 2012
Any kind of loan whether it is personal loan, housing loan etc..
Thankyou
Thankyou
14 December 2012
not for personal loan.
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