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
Rajeev Sharma (Service) (29 Points)
13 December 2008Can 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
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.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)