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deduction of housing loan principal U/s 80C

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(Querist)
21 July 2010 An Assessee has purchased a house from a interest free loan taken fron his elder brother.So can he claim such principal repayment amount as deduction U/s 80 C. Answer with Case laws supportings is highly appreciable.
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srinath

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srinath (Expert)
21 July 2010 There is no question of claiming the principal amount paid to brother since loan taken from financial institutions alone are eligible and not payment to brother.
since the section is very clear there is no need for any case laws
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
21 July 2010 AGREE WITH SRINATHJI. iT IS APPLICABLE ONLY FROM FI'S
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srinath

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srinath (Expert)
21 July 2010 For eg loan taken from bank, LIC, central govt, state govt etc are only eligible...
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