Int on loan taxability
This query is : Resolved
27 December 2014
i have a quest on int on loan taxability. suppose i take a loan from bank for a property which would be registered in the name of my mother. the bank will take the papers and would disburse the loan to the seller. there would be an agreement between bank and me. I would nt have my name mentioned in the registry papers with the authority. can i claim int on loan deduction under the head house property as self occupied and principal deduction under section 80C? please reply soon
CA Kumar Mukesh
(Expert)
27 December 2014
In that case most likely your mother only will eligible for take Deduction under section 24(b)
However, you can claim HRA deduction, if you are employed, by giving rent to mother.
However, you can claim HRA deduction, if you are employed, by giving rent to mother.
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