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Question ID : 31738

Interest on mortgage loan

A person has taken mortgage loan against security of a building which is in his wife's name. He is claiming deduction under sec 80C as well as reducing his profits availing loss on House property. Whether this is possible?

Posted by Mahesh Kumar on Jul 10, 2018

Filed Under DIRECT TAXES

Answer ID : 70855

The person referred cannot claim 24(b) and 80C being not the owner of the building

Posted by B.CHACKRAPANI WARRIER on Jul 12, 2018