Chapter 6A DEDUCTIONS
This query is : Resolved
17 June 2016
Sir/madam,
The assessee taken housing loan, but loan and interest was paid by his son, it is eligible to deductions under chapter 6A ?
please suggest me..
17 June 2016
Deduction u/s 80C for principal of housing loan and 24b for housing loan interest will be eligible for deduction to whom who has paid the EMI. So taking deduction loan has to pay by assessee.
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17 June 2016
The assessee is eligible ?
17 June 2016
No it will not consider as deduction for taking deduction assessee has to pay the EMI and take deduction in VIA.
17 June 2016
assessee can claim the intt. due to its on accural basis but principle will on the payment made by the owner of the house.
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