Hi,
To avail deduction for interest paid towards home loan(self occupied property), IT rule doesn't mention who can be lender.
1)Can you please clarify if Spouse can be lender for lending sum to replay existing home loan with institution e.g. ICICI. HDFc etc.
2) if yes, what certificate(format) has to be issued by lender(spouse).
3) How lender(spouse) will be taxed for income earned as interest.
Thanks,
1) Is there any particular format of certificate, which must be used.
A very specific scenario.
Propoerty is co-wned by couple and funded by bank. Can spouse lend money for other partner share to close existing loan. Any rule on what interest can be charged by spouse to lend money to close existing loan.
Thanks.
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