Can a persono take Housing Loan from Parents. If yes, then what are the formalities to take that loan. (i heared this on CNBC) pls, clear..Rajeev Sharma
2 Replies
b.s.gokul
(final student)
(545 Points)
Replied 13 December 2008
i don't think it is possible. any how will clarify and tell u.
PiyushAgrawal
(Chartered acooutant in practice)
(575 Points)
Replied 14 December 2008
| Originally posted by :Rajeev Sharma | ||
| " | Can a persono take Housing Loan from Parents. If yes, then what are the formalities to take that loan. (i heared this on CNBC) pls, clear..Rajeev Sharma |
" |
Hello,
Private Loan is also Qulaify for deduction in respect of sec 24(b).
So i think Loan from parents is also qulaify.
i think if u take loan by a/c payee cheque to ur A/c and infront of income tax dep. u clerify usases than u can easily get deduction,but u must owner of this property.
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