80c

I have knowledge that the amount paid under section 80 C should be from the taxable income of the assessee.If it is taken from others,then the 80 C deduction on payment basis is not available.
Further in case of purchase of new house,the loan should be taken from Financial Institutions & Other listed co-op banks.If you have more query on this then youcan access it from web site:
www.taxmann.com
This is followed by Income Tax Dept the deision as per taxmann is final there can be no chances of error.
Bye............................