26 April 2012
The individual have constructed a house on a plot whose owner is someone else and taken loan for that construction. Now whether he will be eligible to claim deduction u/s 24 & 80c respectivly of interest and principal paid thereon on this housing loan. * here owner of land is father of the individual
26 April 2012
In my opinion, if the land belongs to father then the loan might be in his name only and in that case, only the father will be eligible for claiming the rebate.
CAclubindia
