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srnvs (engineer)     28 September 2012

Home loan from friends/parents/relatives

Is it legal to avail income tax rebate for interest repayment up to Rs. 1,50,000 /- per annum if the loan is taken from  Friends/Parents/Relatives?
Reference: https://www.jagoinvestor.com/2011/02/4-home-loan-facts.html

Is it mandatory to take home loan from Banks only to avail this concession under Section 24 of Income Tax Act?

 



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 1 Replies

srnvs (engineer)     28 September 2012

Sorry to post under "Property" category. Reposted the same query under "Taxation" category at https://www.lawyersclubindia.com/forum/Home-loan-from-friends-parents-relatives-66991.asp#.UGXTFSNs1pg


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