Deduction on housing loan
Satish Chundi (Student) (38 Points)
20 August 2016
Can deduction for housing loan be claimed by father when the loan is on son's name.
Satish Chundi (Student) (38 Points)
20 August 2016
Ruchi
(CA)
(1410 Points)
Replied 20 August 2016
No, deduction can be claimed only by the person who owns the house and borrows the loan simultaneously.
ACA Anurag
(Enjoy the little things)
(14706 Points)
Replied 20 August 2016
Dear Satish,
No, father cannot claim the deduction of interest in such case but if father is co--loan owner then he can claim the deduction
Originally posted by : Satish Chundi
Can deduction for housing loan be claimed by father when the loan is on son's name.
karthik
(k)
(43 Points)
Replied 20 August 2016
Ruchi
(CA)
(1410 Points)
Replied 21 August 2016
Father has to be owner (or co owner)of the house as well as borrower(or co borrower) to claim any deduction .
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