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home loan
if i take a loan for extension of 1 floor to my ancestral property which is due to me.can i claim principal or interest in deductions.
Replies (3)
For taking Benefit of Interest & Principle, following two conditions are must:
1.house property should be in the name of claiment.
2.Loan Should be in the name of claiment.
further generally bank also provide home loan if you prove that property is in the name of loan applicant.
if heirship certificate is ok?
You Should be owner of the house either by acquisition or by inheritance. If you are the owner you will get the benefit of deduction.
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