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Deduction of interest amount on home loan installment.

This query is : Resolved 
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(Querist)
30 January 2012 i want to know that if a person takes loan from a friend and is paying him interest , will it be allowed as deduction under ihp head.?
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CA Navin Jain

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CA Navin Jain (Expert)
30 January 2012 Yes, you are eligible for claiming of deduction of interest on loan taken from friends, for this you need to obtained a certificate from friend regarding to interest paid to him.
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