Interest on borrowed Capital
This query is : Resolved
06 August 2009
A House is taken in the name of Father and now loan is repayable by son .................Who will claim exception
chetan soni
(Expert)
06 August 2009
the owner of the property can only claim the interest & principal repayment amount. Unless the property is in joint name.
In case of joint name then the interest & principal repayment may be claim by both in the ratio of 50:50.
In your case only father can claim the interest & principal repayment.
In case of joint name then the interest & principal repayment may be claim by both in the ratio of 50:50.
In your case only father can claim the interest & principal repayment.
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