if the house loan is taken from a private party and this has been declared in the property questionnaire submitted to the ITO after the completion of the house and its aqcuisition, can the interest paid to private party on this house loan be alloed as is for the loan taken from any bank or HDFC?
RE:exemption on house oan
by chingapunga on Jul 19, 2008 08:46 PM Permalink
If you can prove that, the amount taken from the private party is for the purpose of housing only and also, the bifurcation of principal interest then you can very well tread that as from any bank or HFC
RE:exemption on house oan
by LALPET SRIDHAR on Jul 19, 2008 09:08 PM Permalink
Yes like any other loan . But you must be able to provide eveidence in case of any query from the IT dept
