capital borrowed for home acquisition
This query is : Resolved
10 July 2010
Mr X want to take loan home loan but he want to register the home on his wife name in which their is no name of Mr X.
Repayment of loan is made by Mr X and bank is also ready to give him loan as mr X as main applicant and his wife as Co applicant.
Will Mr X will get dedcution of interest on capital borrowed even if house property is in name of his wife and not on his own?
Repayment of loan is made by Mr X and bank is also ready to give him loan as mr X as main applicant and his wife as Co applicant.
Will Mr X will get dedcution of interest on capital borrowed even if house property is in name of his wife and not on his own?
12 July 2010
Since the house is not registered in your name you are not eligible for deduction under section 24 & 80C of the Income Tax act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
