house property
This query is : Resolved
monika agarwal
(Querist)
29 May 2014
Kindly resolve my query as stated below:
1.There is house property in name of Neera(mother) and Ashu(son)
2.Neera has three son Ashu, Vinay , Vivek
3.Ashu has taken home loan on that property on his salary.
4.EMI is paid through Ashu account as electronic transfer.
5. Vinay also contributing to loan by giving cash to Ashu (50% of EMI)
My question is how Vinay get himself secure so that in future he can also claim right on property?
Further can he claim tax exemption u/s 24 of Income tax if he pay his part of contribution through cheque to Ashu (his brother)?
1.There is house property in name of Neera(mother) and Ashu(son)
2.Neera has three son Ashu, Vinay , Vivek
3.Ashu has taken home loan on that property on his salary.
4.EMI is paid through Ashu account as electronic transfer.
5. Vinay also contributing to loan by giving cash to Ashu (50% of EMI)
My question is how Vinay get himself secure so that in future he can also claim right on property?
Further can he claim tax exemption u/s 24 of Income tax if he pay his part of contribution through cheque to Ashu (his brother)?
Rupesh Jain
(Expert)
29 May 2014
deduction of intt. will allow to ashu due to amount paid to ashu and also property in his name .
amount paid by vinay, no deduction allow, due to property not in his name and also not his name in loan agreement.
amount paid by vinay, no deduction allow, due to property not in his name and also not his name in loan agreement.
Nikhil Kaushik
(Expert)
29 May 2014
with regards to claiming interest in the property, it can only be done through a mutual agreement between the brothers...
monika agarwal
(Querist)
29 May 2014
please let me know what action Vinay should take so that he can claim exemption of interest on housing loan u/s 24 of income tax
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