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Housing Loan Deduction by sons

R J (14 Points)

02 September 2022

A house property is in name of X, who has two sons Y and Z. Now Y and Z wants to take loan for house property which is in name of their father.
can Y and Z claim the deduction for same in income tax?

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9 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177713 Points)
Replied 02 September 2022

No, not eligible...

Secondly, Bank will not sanction housing loan when the son's are not owner/co-owner of the property.

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MPR Sanjay Kumar (3118 Points)
Replied 02 September 2022

@ Honourable Dhirajlal sir ,What is mean by Cum interest and Ex interest in Accounting ,plse explain with examples......

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177713 Points)
Replied 03 September 2022

what-are-meant-by-cum-interest-and-ex-interest-the-time-of-purchase-and-sales-of-investments

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MPR Sanjay Kumar (3118 Points)
Replied 03 September 2022

Thanks 😊 Honourable Dhirajlal sir

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 03 September 2022

@ R J No sons are not eligible for interest on loan.

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Replied 11 July 2024

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