House loan repayment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 July 2014
If house is purchased in the name of Father.
One situation:-
Loan is also taken in the name of Father. But loan is repaid by sons through amount paid in father's bank account.
second situation:-
Loan is taken in the name of sons. and paid by them.
then in both above situation what will be tax treatment. Can sons claim the benefit of deduction of loan repayment?
thanks
One situation:-
Loan is also taken in the name of Father. But loan is repaid by sons through amount paid in father's bank account.
second situation:-
Loan is taken in the name of sons. and paid by them.
then in both above situation what will be tax treatment. Can sons claim the benefit of deduction of loan repayment?
thanks
21 July 2014
1. the ans is no, as sons needs to be the owner.
2.yes.
2.yes.
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