Deduction u/s 24 of I. T. Act, 1961

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....eduction u/s 24 of I. T. Act, 1961<br> Query (Issue) Started By: - Vartik Choksi Dated:- 5-3-2014 Last Reply Date:- 5-3-2014 Income Tax<br>Got 1 Reply<br>Income Tax<br>I have taken the loan from the b....

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....ank to purchase the house. I am regular in making the payment of interest and principle to the bank. I also claim interest deduction u/s 24 of I. T. Act, 1961. Now if I borrow loan from wife and make ....

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....the repayment of loan to the bank, whether I would be eligible to claim interest payable to my wife u/s 24 of I. T. Act, 1961? Reply By CA GOPALJI AGRAWAL: The Reply: Yes as per circular dated 20/8/....

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....1969 no. 28, once can claim the deduction of interest even on the loan taken to repay the original loan amount.<br> Discussion Forum - Knowledge Sharing ....