i have taken a loan to re modify and extend my ancestral home in which i will be the sole heir
.but the house is not in my name.
so can i claim home loan interest exemption
and also can i put the principal in 80 c
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home loan on ancestral home
Replies (8)
No, you can't claim home loan interest u/s 24 (b) & repayment of principal amount u/s 80C
I agree with the reply of jatin...
The reason ?
is it cause it is not in the loan takers name?
is it cause it is not in the loan takers name?
Yes, you are right
Reason: Property must in the name of loan taker if want to claim deduction
Reason: Property must in the name of loan taker if want to claim deduction
if the property is 50 -50 % share between my mother and me .can i claim exemption.if so can i claim full exemption.
| Originally posted by : Shane D Rozario | ||
 |
if the property is 50 -50 % share between my mother and me .can i claim exemption.if so can i claim full exemption. |  |
Yes
suppose i have 25 %share in ancestral property and it is partly in my name and i have solely taken a loan for it .Then too can i claim full exemption.
No, you can't claim full exemption
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