I am planning to borrow house renovation loan. But the house is in my native place and in the name of my mother.
Kindly advise me whether this amount will qualify for tax exemption..........?
Menu
Dedcution of Interest For Renovation of House
Replies (3)
THE IMP. CONDITION OF TAXABILITY OF INCOME UNDER THE HEAD HOUSE PROPERTY IS THAT ASSESSEE SHOULD BE OWNER OF THE HOUSE PROPERTY.
SO U CANT CLAIM THE EXP. AS DEDUCTION.
INSTEAD TAKE THE LOAN IN THE NAME OF MOTHER AND CLAIM EXP, IF SHE IS A ASSESSEE.
Agreed with Mr. Mahesh Kumar
I second Mr.Mahesh...
Recent Topics :
- 5th Letter PAN Mismatch with Surname issues still
- Criteria to hire an article
- Guidence requested for a Finance Professional with
- Expert Opinion Required – Form 140 Gross Amo
- WRONG TAX DEMAND - formal responses , rectificatio
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
Related Topics :
CAclubindia
