Can home loan payments can be taken as investment for TDS?
Vijeypriya D asked:
An employee pays home loan for the past 2yrs and the house is registered in his father’s name. Can he pay the loan thro’ cheque and get the receipts in his name so that he could give these receipts as investments to avoid TDS
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An employee pays home loan for the past 2yrs and the house is registered in his father’s name. Can he pay the loan thro’ cheque and get the receipts in his name so that he could give these receipts as investments to avoid TDS
March 7th, 2010 at 1:53 am
No, this is not permitted
March 8th, 2010 at 8:47 pm
Yes, the principal may be deductible under section 80C, which has a limit of Rs. 1 lacs.
But the problem is that the home is not in his name. So you need to find more about this.
Forum for India Taxes: