Friends i have a query related to deduction of interest on home loan...
If an employee purchase a home by taking loan and claiming deduction of interest on loan of Rs. 150000 but niether he resides in property nor rented it out but has given it to his parents and reside in same city in another house.he is also claiming HRA.
Weather he is entitled for deduction of intrest of Rs. 150000 or there is any issue of same city clause?if he is not entitled then what he should do for claiming the same?
What would happen if the house property is vacated?
CAclubindia
