Income tax deduction benefit for construction of house.

Share
Share This Thread
  1. Adhiswar

    Adhiswar New Member

    Hi Sir,
    Can I eligible for Income tax deduction benefit under section 80C, 24, 80ee etc for construction of house by loan taken from bank against land which is registered in my mother name.

    Regards
    Adhiswar
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    Yes, you are eligible for tax deduction for loan taken against property for construction of a house.
     
  3. Adhiswar

    Adhiswar New Member

    Thank you sir

    For your reply but again I would like to inform you that the land's solely in name of mother. Please clarify with related section in which it has mentioned that even land can be in the name of relative or parents & deduction is allowed.
     
  4. gaurav_kumar

    gaurav_kumar Well-Known Member

    For the benefit of safety - you can request your mother to transfer a very small percentage in your name.

    By doing this, you would also become the owner and can then spend on construction of house.
     
  5. Venkat Prasad

    Venkat Prasad New Member

    Good information sharing by Gaurav. and will be helpful for everyone.
     
    gaurav_kumar likes this.
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
income tax deduction (TDS) on payment of new home Income Tax Mar 9, 2018
DEDUCTIONS ON RENTAL INCOME IN HUF NAME Income Tax Mar 1, 2018
Income Tax deduction on Computer & Laptop purchase Income Tax Feb 24, 2018
Income Tax: Standard deduction: FY 2018-2019 Income Tax Feb 15, 2018
income tax deduction Income Tax Jan 4, 2018