Bank & loan related

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Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2014  How many Rs. Gift received in a Cash from relatives ????
 5 flat I made for personal use, and I have taken loan from banks 40lac. Can I get interest benefit ???
 Property document made for wife. And loan repayment by husband so can I get interest benefit ??
 I have a office one( commercial ) property in my name and and I am purchase new house can I get interest benefit ??

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 June 2014 1. there is no limit on gifts from relatives

2. yes you will be get benefit of interest payment

3. bit of a grey area. whose name is the loan sanctioned?

4. if you already have more than one house on the date of sale of the commercial property, no exemption can be claimed under 54F. however you can claim deduction under 54EC

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