so the house is registered in the na
me of my parents and a loan was taken for that house
so, now can the son /daughter can claim interest on loan as a deduction in sec 24 of IT ACT
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Interest on house property deductions
Replies (5)
Who takes the loan ???
Loan is in the name of parents but paid byme
You can not claim interest
Then parents will take benifit If they are co owner
Or in other words the person whose under the loan is as well as he or she should be co owner of the property will take the deduction
You can't take the deduction
To claim interest on borrowed capital, the property should be owned and the loan should also be taken in the name of assessee. so you can't claim it even though the same is paid by you
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