Housing loan interest

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Garre susmitha (Querist)
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27 August 2012 Respected Sir,
If the house is in the name of Daughter Of the assessee,and loan is taken on the name of the assessee &repaid by the assessee .Is he Eligible to claim 80C deduction on housing loan.

Guest

Guest (Expert)

27 August 2012 YES YOU CAN CLAIM BUT HAVE TO PROOF ITS BONAFIDE IF DEMAND RAISED BY DEPARTMENT

Garre susmitha

Garre susmitha (Querist)
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27 August 2012 thank u sir ,Is the assessee is also eligible for 24(b) deducton?

Prakash Kochar

Prakash Kochar (Expert)
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27 August 2012 If the daughter is minor and investment for house is by father, he will be eligible for deduction of interest u/s. 24 and for repayment of initial loan amount u/s. 80C.

Guest

Guest (Expert)

28 August 2012 co borrower can claim interest paid but they have to define their share.