House Property
This query is : Resolved
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?
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?
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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