Dear All,
I want to know that interest on loan taken from relative will qualify for exemption under section 24 (b) or is it madatory to take the loan from any financial institution to qualify for this exemption.
Thanks.
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Interest on Loan taken from relative qualify for deduction?
Replies (8)
It is immaterial whether the loan has been taken from a relative or financial institution...u can claim the dedcution on interest here...
Deduction can be claimed whether the loan is taken from financial institution or relative
| Originally posted by : Sunshine... | ||
 |
It is immaterial whether the loan has been taken from a relative or financial institution...u can claim the dedcution on interest here... |
 |
agreed
Agree with all...
But i guess you will need enough supporing documents to show that you pay interest against a loan taken from relative :)
agree with all
| Originally posted by : Sunshine... | ||
|
|
It is immaterial whether the loan has been taken from a relative or financial institution...u can claim the dedcution on interest here... |
|
agreed but a certificate is needed to be attached
Agree with above
Loan for house buildhing can be taken form any financial institue or from any other person including relative to avail deduction u/s 24(b) of I.T.Act.
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