Deduction of interest amount on home loan installment.
This query is : Resolved
30 January 2012
i want to know that if a person takes loan from a friend and is paying him interest , will it be allowed as deduction under ihp head.?
30 January 2012
Yes, you are eligible for claiming of deduction of interest on loan taken from friends, for this you need to obtained a certificate from friend regarding to interest paid to him.
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