An individual has taken home loan and received possession in 2013-14 jointly (both property and the loan) along with his spouse. He wants that the entire interest for the year 2013-14 be claimed by his wife and from the following year the interest is claimed in 50:50 ratio by both. EMIs for the loan are repaid from the individual's account to which his wife transfers some amount from her bank account to his account. Can this be done ??
Interest benefit on jointly owned property
manoj kumar (Assistant officer) (50 Points)
13 February 2014
CAclubindia
