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Interest under section 24 h.p
Is intt under house property under section 24 of Rs150000 allowed when loan taken from private party????If no is there any circular barring such allowability of such intt??????
Replies (3)
No, it is allowed.
dear mihir,
Source pls
Regards
Loan taken from private party ie friends, relatives for home is allowed for claiming deduction u/s 24(b), provided the lender furnishes a certificate of loan paid to the assessee. However, principal amount shall not be eligible for deduction u/s 80C.
https://www.indiantaxupdates.com/2012/11/06/tax-benefits-on-home-loan-in-india/
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