22 December 2013
There is a land in name of a father. A housing loan is taken in the name of father and his son jointly to construct a house property on this land. Whole of the repayment of loan is made by the son and the construction bills are also in name of the son. The loan is fully repaid and now son wants to show rent payment to father and claim deduction under sec 10(13A) i.e. house rent allowance. Can he do so? Who owns the property in this case?
CAclubindia
