chandrika (acc) (25 Points)
28 May 2016
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 28 May 2016
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.
Ruchi
(CA)
(1410 Points)
Replied 28 May 2016
Agreed , the son cannot get any benefit under any of the sections mentioned as he is not a co-owner.
chandrika
(acc)
(25 Points)
Replied 30 May 2016
Yes I agree with you ,is it any way to get deduction.
Ruchi
(CA)
(1410 Points)
Replied 30 May 2016
To get deduction, ownership is must. If the son becomes co owner then he can get deduction.
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