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Housing loan interest from family

This query is : Resolved 

Hi, as per my understanding interest on the housing loan taken from family and friends can also be claimed under s24 as a deduction st limit of 2lacs. However an interest certificate is needed from the person from whom loan is taken. Can you please advise how this certificate can be obtained?


Your understanding is correct. Deduction for Interest paid on Loan taken from Family/Friends is available U/s 24 upto Rs 2 Lakhs. Howsoever, additional deduction for Interest U/s 80EE/80EEA is not available and Deduction U/s 80C for principal payment is also not available.
You make take a certificate from the lender for payment of Interest & Principal for the year. Also keep ready the bank statements, to substantiate the payment, if required in case.

you can get the certificate from the person who has given the loan

Got it so it can be just a normal signed certificate in a particular format. Thank you.


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