Eligibility of tax rebate

Tax queries 107 views 2 replies
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accountancy
98 Points Joined December 2008

What will be the eligibility of tax

rebate if a son repays the loan which is in the name of mother ,a housewife

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On 20 February 2017 at 10:13 Report
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If Business/ personal loan:The son will not be eligible for a deduction as the loan repaid is on behalf of mother. It will be like a gift to mother.

If housing loan: Not eligible as the house is not owned by him

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On 20 February 2017 at 10:30
Guest

If Business/ personal loan:The son will not be eligible for a deduction as the loan repaid is on behalf of mother. It will be like a gift to mother.

If housing loan: Not eligible as the house is not owned by him

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On 20 February 2017 at 10:30

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