10 September 2015
Son has taken loan for purchase of a house property, property is booked in the name of parents, interest for the loan is paid by the son, is he eligible claim Interest on Home Loan u/s 24? and principal amount u/s 80C??
Should he be treated as beneficial owner as he is financing the purchase of house property?
10 September 2015
Son has no eligibility for the claims u/s. 24(b) for interest and 80C for the principal repaid since he is NOT the owner of the property.
CAclubindia
