Exemption of Home Constuction Loan

manish soni (Manager- Taxation & Commercial)   (170 Points)

18 February 2011  

Little query regarding the exemption of Home Loan.

See my brother has applied for loan of Rs. 10 Lacs for construction of a house but as per his documents he is not eligible for the same so i have submitted my documents along with his and get the same.

Most important thing : registry in the name of my brother so want to know the following :

1. can we take the exemption ? if yes then whts the processor becoz we will get the amount in installment not in one shot..... ???

2. both can take the exemption of the same if yes then there is conditions or formulas for the same...??

if the registry in the name of my mother then what is the status???

Request you to please help in this regard

Thanks in advance

Regards