Bharat bhushan
(Chartered Accountant)
(143 Points)
Replied 30 June 2017
For taking Benefit of Interest & Principle, following two conditions are must:
1.house property should be in the name of claiment.
2.Loan Should be in the name of claiment.
further generally bank also provide home loan if you prove that property is in the name of loan applicant.
Poltu Ghosh
(Job)
(1865 Points)
Replied 30 June 2017
You Should be owner of the house either by acquisition or by inheritance. If you are the owner you will get the benefit of deduction.
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