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Hausing loan

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pradeep sahu (Querist)
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01 July 2013 is housing loan interest claim in individual in respect of loan taken from brother then housing loan allowed or not u/s 24

CA.Vinita Gupta

CA.Vinita Gupta (Expert)
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02 July 2013 Yes interest can be claimed as deduction if housing loan is taken from brother but principal amount deduction will not be allowed

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Prakash Kochar

Prakash Kochar (Expert)
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05 August 2013 Interest paid on loan raised from any source, used for construction of house is allowable deduction u/s. 24. But repayment of loan qualifies for deduction only if taken from sources specified u/s. 80C.

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