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Interest on Housing Loan
if assesse has taken loan from spouse for purchase home till now no interest is given to spouse so can i give interest to spouse amd claim it as deductions under sec 24(b) ?
Replies (2)
yes
.. even loan from freinds can be considered provided funds were utilized for the said purpose.
.. even loan from freinds can be considered provided funds were utilized for the said purpose.
Section 24(b)
"
provided also that no deduction shall be made under the second proviso unless the assessee furnishes a certificate, from the person to whom any interest is payable on the capital borrowed, specifying the amount of interest payable by the assessee for the purpose of such acquisition or construction of the property, or, conversion of the whole or any part of the capital borrowed which remains to be repaid as a new loan."
"
provided also that no deduction shall be made under the second proviso unless the assessee furnishes a certificate, from the person to whom any interest is payable on the capital borrowed, specifying the amount of interest payable by the assessee for the purpose of such acquisition or construction of the property, or, conversion of the whole or any part of the capital borrowed which remains to be repaid as a new loan."
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