15 February 2014
Can parents claim deductions under section 80C on repayment of housing loan EMI in case the repayment is made from the account of their son. Please note that parents are showing the amount repaid from the account of their son as GIFT RECEIVED from their son.... So can parents claim deduction with regard to such emi paid by their son in form of Gift?
In any case if certificate by bank is issued in name of parents they can claim the deduction rest thing you can take care by entries in your personal accounts.
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