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deduction of Interest on unsecured loan u/s 24b

Started by priyankargada, February 29, 2016, 04:19:49 PM

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priyankargada

Hello all,

I have borrowed funds from my sister to acquire a commercial property which was subsequently rented out. Can i get the deduction u/s 24b for the interest paid to her? if yes, is there a judgement supporting the same?

camanoj2104

section 24(b) talks of interest on borrowed capital only. Is does not talks about from where to borrow so u will get deduction .
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