Can sons claim deduction u/s 24 for paying interest on House Loan when the property is in the name of their mother/father?
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Quick Summary
This discussion clarifies whether sons can claim a deduction under Section 24 for paying interest on a home loan when the property is registered in their mother or father's name. The consensus is that ownership of the property is a prerequisite for claiming this deduction. It also addresses whether a partial ownership share, even if paying a larger portion of the EMI, allows for a proportionate deduction, with the answer being no.