Home Loan part payment from my parents

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Team lead
21 Points Posted on 12 January 2023

Hi all,

 

Can I take help from my parents to part pay my home loan.

Will. my parents or I incur any tax on this amount

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On 12 January 2023 at 16:39 Report
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Quick Summary
This discussion explores whether parents can contribute to a home loan part payment. It clarifies that such payments are generally allowable. The advice suggests that receiving funds as a gift from parents is a preferable route, allowing you to use the money to pay home loan EMIs and potentially claim tax rebates under the income tax act.

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SEO Sai Gr. Hosp.
212535 Points Posted on 12 January 2023

Better to take gift from them, so that you can pay home loan EMI & can claim rebate under income tax act...

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On 12 January 2023 at 16:53
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Profession
28271 Points Posted on 14 January 2023
Home loan part payment is allowable.
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On 14 January 2023 at 08:03

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