05 January 2017
1. Only bank interest is allowable. 2. Your father's income is below exemption limit, need not to file even ITR so don't think of paying income tax.
05 January 2017
but if I took a loan from parent too and interest is being paid to them , Interest payment to relatives can be claimed u/s 24 as I found in website will I also in my case
05 January 2017
As per Section 24 There is no requirement that the loan should be borrowed from financial institutions as contained in Sec 80C. So there is no problem in your case from claiming interest paid to your parents.
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