House property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2013 If i am taking loan for purchase of house from an individual person who is my brother in law, then what document should be prepared so that i will get deduction of interest under section 24 (b).

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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01 January 2013 If possible, pls execute a loan agreement and if it is not possible then the bank statement must reflect that you have taken a loan and also interest on the same is paid.
At the year, get a certificate from your brother. your brother should offer interest income for taxation.

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