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section 24b of I.T. Act

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18 March 2009 Whether Interest paid on laon taken from parents or grand parents for purchase of House Property is allowed as deduction? Again as per sec24b a certificate is required for claiming the deduction of interest, so in the above case who will provide the certificate?

18 March 2009 Legally,it is permitted.

A simple letter from Lender indicating, inter alia, source of income will do.

Make sure the amount is paid by way of Cheque or Draft.

The Lender has to include interest as Income in his return.

You cannot however claim Sec 80C Deduction

18 March 2009 i support the expert


18 March 2009 I AGREE WITH MR K.V.SUBBA RAO



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