Whether House Loan EMI paid by son for loan taken on house property registered in the name of mother can be claimed as deduction u/s 24(b) and u/s 80C?
5 Replies
ANUBHAV VISHNOI
(-)
(150 Points)
Replied 17 November 2012
Hi ritesh,
A son who has taken a loan and paid EMI can't claim deductions u/s 24 and 80c bcoz property is registered in the name of mother. If son wants to take benefit under above mentioned sections then he has to be owner of that house property.
I hope this will help you.
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 17 November 2012
ANUBHAV IS RIGHT
Ritesh
(Professional)
(291 Points)
Replied 18 November 2012
Thank you for reply. I just want to clear my question once again. Loan is taken by mother but all the EMIs are paid by son. Whether in this case is answer remained same? Is there any other section under which this amount can be claimed as deduction?
ANUBHAV VISHNOI
(-)
(150 Points)
Replied 18 November 2012
Although EMI is paid by son but he is not the owner of property so he can't take deductions under those sections. There is no other sections where son can get deduction.
Ritesh
(Professional)
(291 Points)
Replied 19 November 2012
Thank you for your valuable time and knowledge.
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