13 November 2010
Friends, one of my friends & his wife has taken a home loan. They both are co-owner & co-applicant, but the instalment of home loan is debiting from my friends a/c only, so what should be the treatment of deduction u/s 80, who will get the benefits of the same, whether a journal entry will be passed in the books of wife by standing loan from husband of the entire benefits will goes to husband. thanks in advance.
CAclubindia
