House propery
This query is : Resolved
11 March 2015
House Property is completely owned by Mother but housing loan interest is paid by Son in joint account with mother . Can son claim deduction of interest under section 24 ?
If whole interest was individually paid by son(I.e. without having joint account with mother) will interest deduction of section 24 can be claimed ? What will be the treatment of Principal component under section 80C ?
11 March 2015
1. No, son cannot claim interest u/s 24 in both cases.
2. Son cannot claim principal amount. Mother can claim principal amount which is paid by her.
2. Son cannot claim principal amount. Mother can claim principal amount which is paid by her.
12 March 2015
completely agreed with deepti's view.
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