11 March 2015
House Property is completely owned by Mother but housing loan interest is paid by Son in joint account with mother . Can son claim deduction of interest under section 24 ?
If whole interest was individually paid by son(I.e. without having joint account with mother) will interest deduction of section 24 can be claimed ? What will be the treatment of Principal component under section 80C ?
11 March 2015
1. No, son cannot claim interest u/s 24 in both cases. 2. Son cannot claim principal amount. Mother can claim principal amount which is paid by her.
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