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Whether i got houseing loan deduction or not ?
A house which registry is in the name of father. now son want to take loan on this house and pay its EMI and father is co-applicant in loan. so whether son get deduction or not in section 80 C or Sec. 24 or Sec. 80EE.
Replies (4)
A co-owner, who is not a co-borrower, is not entitled to tax benefits.
Similarly, a co-borrower, who is not a co-owner, cannot claim benefits.
Son can't claim deduction under income tax act.
Agreed , the son cannot get any benefit under any of the sections mentioned as he is not a co-owner.
Yes I agree with you ,is it any way to get deduction.
To get deduction, ownership is must. If the son becomes co owner then he can get deduction.
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