| Question And Answer | |
|---|---|
| Subject: | 24(b) |
| Category: | Income-Tax |
| Querist: | Sunil |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | deduction, income from house property |
| Date: | March 19, 2023 |
Regarding the deduction available u/s 24b of Income Tax Act, Can a son who is the co-borrower of the loan taken for construction of house claim the deduction u/s 24(b). Please note that he is not the owner/co-owner but complete EMI is getting deducted from his bank savings account. His mother is the only owner of the property. Sec 24(b) applicable where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest payable on such capital:
Please help on this issue. Thanks
The son cannot claim any deduction under section 24(b) of the Act as the son doesn’t own the said property. The mother cannot claim the deduction as she is not making the payments.
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