Clarification whether father is allowed for repay son's home loan
This query is : Resolved
Quick Summary
smart kalai
(Querist)
11 June 2021
sir, i have a doubt, one of my client's father received lump sum amount after retirement , can that proceeds be used for repaying son's home loan?
CA Altamush Zafar
(Expert)
11 June 2021
Sure he can. There is no restriction.
Dhirajlal Rambhia
(Expert)
24 September 2021
Yes, he can pay that.... but he can not claim any benefit of tax/ saving over the sum received/earned in lump sum.
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