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Randhir (accountancy) (98 Points)
What will be the eligibility of tax
rebate if a son repays the loan which is in the name of mother ,a housewife
If Business/ personal loan:The son will not be eligible for a deduction as the loan repaid is on behalf of mother. It will be like a gift to mother.
If housing loan: Not eligible as the house is not owned by him
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