income tax query
This query is : Resolved
13 March 2011
a salaried person had taken a loan from his relatives to purchase a property and in return he is paying them interest @rate of 8% does interest paid by him is allowable as a deduction from his total income while computing his tax , if yes ,then under which section?
13 March 2011
Interest paid to Bank or any financial institution is only valid for deduction.
13 March 2011
this means he won't be getting any sort of deduction, is there any other way to claim
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