Interest on loan from father

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2012 I took loan from my father for re4pairing of my house what would be the treatment in income tax and which sec. shall i get the exemption whether can i get deduction in principle amount in sec 80C

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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15 February 2012 Under section.24(b) you may have deductions.provided your father give interest certificate mentioned his PAN number and details of loan, interest rate, purpose etc.