Can I take help from my parents to part pay my home loan.
Will. my parents or I incur any tax on this amount
Replies (2)
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.