Borrowed capital for buying a house
Hi!
I want to know whether the interest paid on capital borrowed from one's parents for the purpose of buying a house eligible for income tax deduction.
Asked on 12/08/04, 4:09 am
1 Answer from Attorneys
Raja Selvam
Selvam & Selvam, Advocates & Consultants
Re: Borrowed capital for buying a house
Hi,
It depends on what conditions and terms that such money was borrowed. In case of a detailed discussion pls do email us on the terms and conditions and procedure on which the loan was taken.
regards,
Answered on 12/08/04, 4:44 am
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