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srnvs (engineer)     28 September 2012

Home loan from friends/parents/relatives

Is it legal to take home loan from Friends/Parents/Relatives and avail income tax rebate for interest repayment up to Rs. 1,50,000 /- per annum?
Reference: https://www.jagoinvestor.com/2011/02/4-home-loan-facts.html (Point 3)

Is it mandatory to take home loan from Banks only to avail income tax rebate under Section 24 of Income Tax Act?
 



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