House loan repayment
This query is : Resolved
17 November 2009
A person is repaying the housing loan which his father has taken to construct a residential house. Even though the loan is in father's name, our assessee is repaying the loan out of his taxable income. Can he claim the benefit U/s 80C?
17 November 2009
Cannot claim because the words used are' repayment of the amount borrowed by the assessee'. Here assessee has not borrowed. Hence claim will be denied.
17 November 2009
yes,cannot claim Deduction u/s 80C.
17 November 2009
i agree with experts.
The basic intention of law is to give the connession to the owner or assessee.
The basic intention of law is to give the connession to the owner or assessee.
17 November 2009
agree
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