Deduction u/s 80c

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Aanal (Querist)
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20 January 2012 Can a person get a deduction for the principal amount paid for housing loan taken for a property which is owned by his father?

That means, if a property is hold by the father, can his son take a loan for that property & claim benefit u/s 80C?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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20 January 2012 No. Deduction can only be claimed by the owner of the property.

For information read the article from below link---

https://taxguru.in/income-tax/faq-on-housing-loan-and-income-tax-benefit.html

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CA Deepak S

CA Deepak S (Expert)
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21 January 2012 Agree with the expert

CA Deepak S

CA Deepak S (Expert)
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21 January 2012 Even if some banks agree for a joint loan, normally banks do not pass home loan if a person does not have any property in his name.

Aanal

Aanal (Querist)
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21 January 2012 Thanks...

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