anonymous II (director) (60 Points)
21 August 2011An employee of Central Govt. took some loan from his father for making a house. Can that employee claim deduction as interest on housing loan on the interest which he paid to his father and whether if he paid some part of loan also, can it be deducted as repayment of housing loan.
Sunshine
(Helping All)
(10575 Points)
Replied 21 August 2011
Deduction u/s 24 B can be claimed if your father certifies the interest payment coz he himself would have to pay tax on that interest received...
Deduction under 80 C for repayment of principal cannot be claimed as the loan is not from notified instututions or bank...
REgards!!
| Originally posted by : Sunshine... | ||
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Deduction u/s 24 B can be claimed if your father certifies the interest payment coz he himself would have to pay tax on that interest received... Deduction under 80 C for repayment of principal cannot be claimed as the loan is not from notified instututions or bank... REgards!! |
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Fully agree with this reply
CAclubindia
