Legal Question in Tax Law in India

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,

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Answered on 12/08/04, 4:44 am


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