Housing Loan Interest Deduction
This query is : Resolved
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.
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.
26 March 2010
Your view is correct, but you should obtain interest certificate from your brother.
26 March 2010
agree with expert
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