House loan repayment

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CA Jithesh C (Querist)
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17 November 2009 A person is repaying the housing loan which his father has taken to construct a residential house. Even though the loan is in father's name, our assessee is repaying the loan out of his taxable income. Can he claim the benefit U/s 80C?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 November 2009 Cannot claim because the words used are' repayment of the amount borrowed by the assessee'. Here assessee has not borrowed. Hence claim will be denied.

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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17 November 2009 yes,cannot claim Deduction u/s 80C.

chetan soni

chetan soni (Expert)
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17 November 2009 i agree with experts.

The basic intention of law is to give the connession to the owner or assessee.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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17 November 2009 agree

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