Deduction U/s 24
This query is : Resolved
30 December 2010
Owner of the plot is father. loan taken by father with son as co- borrower for construction of house and amount incurred on construction bear by son . can son claim deduction u/s 24 regarding intt. and u/s 80 c if yes than any further requirement
30 December 2010
No.... property ownership is the key condition to get the IT benefit, mere joint loan will not help.
30 December 2010
Owner of the plot is father. loan taken by father with son as co- borrower for construction of house and amount incurred on construction bear by son . can son claim deduction u/s 24 regarding intt. and u/s 80 c if yes than any further requirement
31 December 2010
If the son has constructed the house by borrowed fund he can claim the deduction u/s 24 and 80C.
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