Benefits of LAP
This query is : Resolved
Quick Summary
31 August 2025
I am a salaried employee with no business income. I have a Loan Against Property, which is used to buy property in the name of my name and in my wife's name.
As my loan is a LAP and not a Home Loan that too in my name -
Q1. Can my wife add the Loan Interest to cost of acquisition for her under-construction flat cost.
Q2. Another flat is fully constructed and is in my name. This flat is not on rent and I do not live in this flat - Can I claim the interest under section 24b and or 80EEA or add this to cost of acquisition
I am open to receive any other suggestion to reduce my tax liabillity
As my loan is a LAP and not a Home Loan that too in my name -
Q1. Can my wife add the Loan Interest to cost of acquisition for her under-construction flat cost.
Q2. Another flat is fully constructed and is in my name. This flat is not on rent and I do not live in this flat - Can I claim the interest under section 24b and or 80EEA or add this to cost of acquisition
I am open to receive any other suggestion to reduce my tax liabillity
Dhirajlal Rambhia
(Expert)
01 September 2025
Yes, if you can justify that you have used the loan amount in purchase of any HP.
Dhirajlal Rambhia
(Expert)
21 September 2025
Good luck....
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