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Interest on Housing Loan

variya harsh (surat)     17 August 2019

variya harsh
 28 points

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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) ?

Abhilash Gandhi   17 August 2019

Abhilash Gandhi

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.. even loan from freinds can be considered provided funds were utilized for the said purpose.


Kapadia Pravin   17 August 2019

Kapadia Pravin

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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."

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