Can a home loan from bank and from a relative be clubed?
This query is : Resolved
Saurabh Sharma
(Querist)
28 August 2016
Can a home loan from bank and from a relative be clubed for income tax rebate perspective
I have home loan from bank for a property and want to take loan from my parents as well can i take tax rebate on both the property
I have home loan from bank for a property and want to take loan from my parents as well can i take tax rebate on both the property
28 August 2016
No, you can't club.
CA SAGAR M. AHUJA
(Expert)
29 August 2016
Interest on Loans from relative and Friends is eligible for deduction U/s 24(b) but Lander Must file ITR and Show Interest Income in Income Tax Return.
But one must note that Principle Repayment U/s 80C and Extra Interest Deduction U/s 80EE are not available.
Thanks.
But one must note that Principle Repayment U/s 80C and Extra Interest Deduction U/s 80EE are not available.
Thanks.
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