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House Property

This query is : Resolved 
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(Querist)
09 November 2009 A house propety is in the name of a minor.Home loan has been taken against the property.
Q1. Whether deduction u/s 24b (interest on loan ) will be allowed to parents?

Q2. Whether loss in respect of that property will be set off against the parents income?
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CA Ratan kandare

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CA Ratan kandare (Expert)
09 November 2009 After deducting all Expenses u/s 24a & 24b, Income will be club to the Parents Income whose income is higher & Loss in respeect of that Property Can be set off against Parents Income.
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