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.
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