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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.
Replies (1)
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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