01 January 2013
If i am taking loan for purchase of house from an individual person who is my brother in law, then what document should be prepared so that i will get deduction of interest under section 24 (b).
01 January 2013
If possible, pls execute a loan agreement and if it is not possible then the bank statement must reflect that you have taken a loan and also interest on the same is paid. At the year, get a certificate from your brother. your brother should offer interest income for taxation.
CAclubindia
