Can you please let me know your opinions with regard to the following query.
Q)Mr. X a salaried employee has taken a house loan and purchased the house in his mothers name. The payment to bank is made by Mr. X by transferring the funds to his mothers savings account i.e through her mothers savings account the amount is repaid to the Bank. Mr. X wants to claim deductions of principal and interest which is paid to the Bank. What is the procedure as per the Income Tax Act and Rules ??
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