AI Generated Content

This may include content generated using AI tools. Glance teams are making active and commercially reasonable efforts to moderate all AI generated content. Glance moderation processes are improving however our processes are carried out on a best-effort basis and may not be exhaustive in nature. Glance encourage our users to consume the content judiciously and rely on their own research for accuracy of facts. Glance maintains that all AI generated content here is for entertainment purposes only.

Tax Benefits of Home Loan: Borrowing from Parents

SUMMARY

AI Generated Content
  • Interest on parent loans deductible up to ₹2 lakh (Sec 24b).
  • Principal repayment to parents not eligible for 80C deduction.
  • No TDS required on interest paid to parents; report in ITR.
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