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Interest on Housing Loan


variya harsh (surat)     17 August 2019

variya harsh
surat 
 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) ?

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Aditi Kaur (Practising CA)    1 September 2020

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Abhilash Gandhi   17 August 2019

Abhilash Gandhi

 2 likes  27 points

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

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Kapadia Pravin   17 August 2019

Kapadia Pravin

 922 likes  14318 points

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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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