Deduction on housing loan
Satish Chundi (Student) (38 Points)
20 August 2016Satish Chundi (Student) (38 Points)
20 August 2016
Irfan Khan
(CA FINAL)
(508 Points)
Replied 20 August 2016
ACA Anurag
(Enjoy the little things)
(14706 Points)
Replied 20 August 2016
Dear satish,
I have already answered it .
No he cannot claim the interest deduction unless and until its co-loaner .
Originally posted by : Satish Chundi
Can deduction for housing loan be claimed by father when the loan is on son's name.
Unnikrishnan B
(Branch Manager)
(740 Points)
Replied 21 August 2016
Here the income tax allows interest deduction when applicant or co applicant is property owner . if joint co obligant is not property owner then also co obligant cannot claim interest deduction .
This is my opinion
CA HITENDRA PANCHAL
(ACCOUNT EXECUTIVE)
(23 Points)
Replied 22 August 2016
Yes , If Loan is paid from the father's source of Income
FCA surbhi jain
(FCA)
(897 Points)
Replied 22 August 2016
It is only possible if father is co-loaner
Or
If loan is repaid from father's income.
FCA surbhi jain
(FCA)
(897 Points)
Replied 22 August 2016
It is only possible if father is co-loaner
Or
If loan is repaid from father's income.
FCA surbhi jain
(FCA)
(897 Points)
Replied 22 August 2016
It is only possible if father is co-loaner
Or
If loan is repaid from father's income.
CA.Vinita Gupta
(Deputy Manager- Finance)
(2918 Points)
Replied 22 August 2016
Deduction cannot be claimed by father if the son takes the loan