Housing Loan Interest Deduction
This query is : Resolved
Anwar Shaikh
(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.
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.
Ghanshyam T Jha
(Expert)
26 March 2010
Your view is correct, but you should obtain interest certificate from your brother.
CA Ashok Kumar Sahu
(Expert)
26 March 2010
agree with expert
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