section 24b of I.T. Act
This query is : Resolved
smita sharma
(Querist)
18 March 2009
Whether Interest paid on laon taken from parents or grand parents for purchase of House Property is allowed as deduction? Again as per sec24b a certificate is required for claiming the deduction of interest, so in the above case who will provide the certificate?
K V Subba Rao
(Expert)
18 March 2009
Legally,it is permitted.
A simple letter from Lender indicating, inter alia, source of income will do.
Make sure the amount is paid by way of Cheque or Draft.
The Lender has to include interest as Income in his return.
You cannot however claim Sec 80C Deduction
A simple letter from Lender indicating, inter alia, source of income will do.
Make sure the amount is paid by way of Cheque or Draft.
The Lender has to include interest as Income in his return.
You cannot however claim Sec 80C Deduction
18 March 2009
i support the expert
HUZAIFA HUSSAIN
(Expert)
18 March 2009
I AGREE WITH MR K.V.SUBBA RAO
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