Hello ,
Hello i have query regarding Interest deduction mortgage loan.
The property is Registered in the name of the mother but the mortgage loan is sanctioned in the name of the Son.
Can the son claim deduction of repayment of Interest??As he is the beneficial owner and uses for his purpose and can he show it as his assest in his books??
What is the tax treatment in Case of Capital gain ?
who will be taxed legal or Beneficial owner.
CAclubindia
