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.
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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