Eligibility to claim home loan interest !!
This query is : Resolved
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?
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.
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