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Housing Loan Interest Deduction

This query is : Resolved 
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(Querist)
26 March 2010 Hello experts,

If I take a housing loan of Rs.3 lakhs from my BROTHER , can I take interest deduction u/s 24(b) & principal deduction u/s.80C.

My own opinion :

I think I can take interest deduction u/s.24(b), but I can’t take principal deduction u/s.80C.

Please give me ur expert advice.

Also if possible refer me any case law or refrence.
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Ghanshyam T Jha

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Ghanshyam T Jha (Expert)
26 March 2010 Your view is correct, but you should obtain interest certificate from your brother.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
26 March 2010 agree with expert
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