Tax mitigation on self lease

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Praval (Querist)
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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.

Rupesh Jain

Rupesh Jain (Expert)
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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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