deduction for house loan

This query is : Resolved

jitendra lalwani (Querist)
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24 March 2011 Mr x having income from salary only.
Mother(housewife ie doesn't have any source of income) of x is registered owner of residential house now x want to take a house loan from notified institutions and banks for construction of second floor.

i want to know

a) is x is eligible for loan whether personely or as co-applicant.

b) can he claim deduction u/s 80 C as he will paid amount of loan.

c) can mother of x claim deduction u\s 24(b)

CA Rajeev Bansal

CA Rajeev Bansal (Expert)
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25 August 2011 A) X is eligible for loan as co-applicant

B) No he cannot claim deduction u/s 80 C

C) yes mother of X can claim decuction u/s 24(b) and u/s 80 C out of his income if any

jitendra lalwani

jitendra lalwani (Querist)
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29 August 2011 So is there is any treatment for saving tax.