Article assisstant
167 Points
Joined May 2017
No the deduction is not available in case of private source.
Deduction is available if amount is borrowed from company in which the public are substantially interested or if the amount is borrowed from employer being public company or public sector company
So check if L and T co comes under company in which public are substantially interested (2(18) of income tax act) and also check if the loan is received from Land T in capacity of employee because if loan was given by L and t co in capacity of employer then deduction is available