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Interest on borrowed cap.

Others 801 views 2 replies

Plz tell me in this case:-

If a father had taken an House Loan and  the partial amount of the Principal & Interest on this housing loan was paid by his son or any other person (NOT AN RELATIVE). Then this repayment is allowed as deduction u/s 24(b) & 80C.

Replies (2)

deduction u/s 80C is availaable on the amount paid by the assesee only ............no deduction u/s for payment by other party

Dear Gourav,

It is only if the house property is in the name of the son that he would be eligible to get the ded u/s 80C and 24(b). in case the property is in the name of th father the son will not be able to claim any deduction


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