so the house is registered in the na me of my parents and a loan was taken for that house so, now can the son /daughter can claim interest on loan as a deduction in sec 24 of IT ACT
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Quick Summary
This discussion clarifies whether a son or daughter can claim a deduction for interest paid on a home loan, even if the loan is in their parents' name. The consensus is that to claim the deduction under Section 24 of the Income Tax Act, the property must be owned by the individual, and the loan must also be taken in their name. Simply paying the loan taken by parents does not entitle you to the deduction.
To claim interest on borrowed capital, the property should be owned and the loan should also be taken in the name of assessee. so you can't claim it even though the same is paid by you
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