Deduction of interest paid on gifted house property
This query is : Resolved
11 February 2013
Dear Sir,
Can I get loan from bank for purchase or house property from my father and get deduction for payment of interest and principal under IT act,1961.
Can I get loan from bank for purchase or house property from my father and get deduction for payment of interest and principal under IT act,1961.
CA. RAGHAV GARG
(Expert)
11 February 2013
HEHE, Dinesh, you may contact any bank for same, but you will get deduction of interest & principal if loan taken from Bank and deduction nly of Interest if loan taken from any other person.
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