Tax mitigation on self lease
This query is : Resolved
19 December 2014
Dear sirs,
I and my father have bought a home for which we have paid 50% each and names of both appears on the sale deed. I am a gov employee and my father is a Pensioner.
I want to avail self lease from my company but want half of the total tax liability to be borne by my father as i come under 20% slab and this arrangement will help mitigate taxes. Please tell if this or any other way is possible.
19 December 2014
if you have loan for purchasing this house then you can avail the intt payment u/s 24(b)benefit and for principal amount u/s 80C
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