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Interest on housing loan
Can anybody advise me if I m a salaried person and I have purchased a new house in the name of my father. Now I have taken a housing loan in my name and paying interest on loan monthly. Can I get deduction of principal and interest under section 80C and section 24 respectively inspite of house being in my father's name? Plz advise thanks.
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As the flat is in the named of your father you can claim the deduction only of repayment of loan (only principle amount) u/s 80c and not interest.
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