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Deduction u/s 80c

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(Querist)
20 January 2012 Can a person get a deduction for the principal amount paid for housing loan taken for a property which is owned by his father?

That means, if a property is hold by the father, can his son take a loan for that property & claim benefit u/s 80C?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
20 January 2012 No. Deduction can only be claimed by the owner of the property.

For information read the article from below link---

http://taxguru.in/income-tax/faq-on-housing-loan-and-income-tax-benefit.html
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CA Deepak S

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CA Deepak S (Expert)
21 January 2012 Agree with the expert



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CA Deepak S

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CA Deepak S (Expert)
21 January 2012 Even if some banks agree for a joint loan, normally banks do not pass home loan if a person does not have any property in his name.
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Aanal

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Aanal (Querist)
21 January 2012 Thanks...

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