18 September 2015
Husband and wife want to be co-owners of a house property. They both want to apply loan. Wife's loan application gets rejected. Can husband take the whole loan on his name, from that amount give a part to wife as loan and both claim interest under 24(b)? Here the question is that husband takes the loan for purchase/construction of property but is using the amount to give loan to wife. Would there be any tax implications?
CAclubindia
