Is Interest from loan taken from HUF for second home deductible u/s 24?

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  1. R SHETH

    R SHETH New Member

    Dear sir,
    My husband wants to take loan for a second home(weekend home) not SOP from his HUF( includes me-his wife, him - karta and our 7 yr old son) and his father's HUF (includes him as member) . My queries are
    1)Is the interest payable on such loan deductible u/s 24 ?
    2)what is the upper limit if any on such interest payments by individual to HUF for home loans ?
     
  2. rudrabose

    rudrabose Active Member

    Deduction wont be allowed for Int on Loan taken from HUF
     
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