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JUST ASK ABOUT TAXATION





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By : archana
On : 21 January 2010

deduction u/s 80c

i have taken home loan from LIC housing finance limited in october 09 as co-applicant.i have started repaying the loan also.house is in my dad's name.will i get deduction u/s 80c.please help me soon and if possible please tell me related case law if any.

 

By : Sivadas Chettur
On : 14 February 2010

Re:

I am of the opinion that you will not be eligible to claim since the ownership is vested with your father. On a plain reading of the Section you have no claim as the section operates only to the assessee who owns the property though not specifically stated.

 

siva208@yahoo.com

 

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