Claim housing loan repayment (80c) & interest (24)
This query is : Resolved
05 September 2014
Dear Colleagues,
In given situation.
Assessee (Female)claimed duduction on repayment of housing loan and interest there on u/s 80C and 24B respectively. Housing loan was taken in joint name of assessee and her husband. But the house property was registered only in husband's name. And it is pertinent to note that husband is unemployed and there is no income to be offered for taxing.
So now the IT department has intimated the assessee that Property should be in assessee's name or should be co-owned.
Is there any conditions specifying for this. Please help me on this as early as possible.
In given situation.
Assessee (Female)claimed duduction on repayment of housing loan and interest there on u/s 80C and 24B respectively. Housing loan was taken in joint name of assessee and her husband. But the house property was registered only in husband's name. And it is pertinent to note that husband is unemployed and there is no income to be offered for taxing.
So now the IT department has intimated the assessee that Property should be in assessee's name or should be co-owned.
Is there any conditions specifying for this. Please help me on this as early as possible.
05 September 2014
View of the department is correct because sections itself, by implication, says ownership is mandatory.
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