Interest on loan from father
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 February 2012
I took loan from my father for re4pairing of my house what would be the treatment in income tax and which sec. shall i get the exemption whether can i get deduction in principle amount in sec 80C
15 February 2012
Under section.24(b) you may have deductions.provided your father give interest certificate mentioned his PAN number and details of loan, interest rate, purpose etc.
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