House property lose

No tax deduction available for such

I think interest expenses can be claimed under section 24(b) for renovations also

@ Mr. Rama Krishna

No sir,

As per second proviso...24(b)..

"" Provided further that where the property referred to in the first proviso is acquired or constructed with capital borrowed on or after the 1st day of April, 1999 and such acquisition or construction is completed within five years from the end of the financial year in which capital was borrowed, the amount of deduction [or, as the case may be, the aggregate of the amounts of deduction]under this clause shall not exceed two lakh rupees.""

it's for acquired or constructed.
Property as referred to in 23(2) that is SOP

Thank you sir. for your valuable reply

@ kapadia sir to my understanding if the house property is sop then interest to an extent of 30000 can be claimed and if the loan amount is borrowed after 1.4.99 and construction completed within 5 years, then Up to 2 lakhs can be claimed. This is for sop. Suppose if the property is let out and any loan obtained for renovations, reconstruction, repair, then entire interest amount can be claimed as deduction. Correct me if I'm wrong

First of all it's only father who can claim it not you.. second thing it's taken from a person and not financial institution therefore deduction of the same cannot be taken