09 November 2009
A house propety is in the name of a minor.Home loan has been taken against the property. Q1. Whether deduction u/s 24b (interest on loan ) will be allowed to parents?
Q2. Whether loss in respect of that property will be set off against the parents income?
09 November 2009
After deducting all Expenses u/s 24a & 24b, Income will be club to the Parents Income whose income is higher & Loss in respeect of that Property Can be set off against Parents Income.
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