I have a Question regarding house loan, my home in my home town was financed with home loan on my fathers name, but I am paying the loan on my family behave, can I claim this as home loan in my tax claims, if so how can I do it.
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Home loan
Replies (3)
In order to claim benefit Under income tax, ownership is also necessary.
If you do not have the ownership, you can not claim benefit under income tax.
If you do not have the ownership, you can not claim benefit under income tax.
Perfectly said by Mr.Amit
According to the Income Tax Act, the person who has taken the loan can claim tax rebates. Hence in this case only the father will be eligible for the tax rebate.
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