Any benefit on repayment of home loan by assessee for property on his wife name
This query is : Open
Akash bansal
(Querist)
04 September 2016
The house property is purchased by the assessee's wife but the repayment of home loan installment taken to purchase such house is paid by the assessee. can my assessee claim any deduction on it in income tax. ( home loan is taken on name of both assessee and his wife)
Unnikrishnan B
(Expert)
04 September 2016
As per income tax rules only property owner is eligible for interest deduction u/s 24(b) and principal amount deduction u/s 80(c)
In this case you cannot avail the deduction as you are not the owner of the house
I hope the query is resolved
In this case you cannot avail the deduction as you are not the owner of the house
I hope the query is resolved
Akash bansal
(Querist)
04 September 2016
Is there is any other way to avail any benefit
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