alexa
 
Home Education Home loans from relatives and friends are eligible for tax deduction

For more knowledge from around the globe get Indianmoney App Now

Google Play
 
Home loans from relatives and friends are eligible for tax deduction

Home loans from relatives and friends are eligible for tax deduction

Thursday, June 29, 2017, 3:38 PM

If you have taken a loan from friends or relatives to acquire a house then you can claim a deduction under Section 24 for interest repayment on loans. A taxpayer would need to obtain a certificate from the relative which would contain the details such as the amount of interest payable, amount of loan taken, specifying the property details for which loan is taken.
Read More

Learn to Save, Spend, Invest & Borrow Wisely with our Youtube Channel

Get It now!