Housing loan from father
This query is : Resolved
17 March 2009
My father wants to give a housing loan by cheque with a interest of 10 % .
If pay him quarterly interest and loan instalment can i get deduction from salary u/s 80C as a loan repayment and interest u/s 24 as loan interest payment up to Rs.1,50,000.
He will issue aletter to me and i accept the terms and condition.
what is the other way to get the loan.
If pay him quarterly interest and loan instalment can i get deduction from salary u/s 80C as a loan repayment and interest u/s 24 as loan interest payment up to Rs.1,50,000.
He will issue aletter to me and i accept the terms and condition.
what is the other way to get the loan.
17 March 2009
Yes, but make sure about all declaration.
K V Subba Rao
(Expert)
17 March 2009
In your father's letter, he has to mention source of funds like retirement benefit etc. A simple letter is sufficient
Sec 80C Deduction cannot be claimed
Make sure that you receive payments (towards) loan by cheque only
You can claim interest u/s 24 but he has to include it his (father) return
Sec 80C Deduction cannot be claimed
Make sure that you receive payments (towards) loan by cheque only
You can claim interest u/s 24 but he has to include it his (father) return
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
