08 January 2008
mrs. x purchased open site and registered in her name. now the housing loan is going to be obtained in the joint names of mr.x and mrs. x. all the approvals for construction of the house will be in the name of mrs. x. can mrs. x and mr.x claim interest on borrowed capital u/s 24(1) in proportion to the repayment of loan from their sources.
08 January 2008
U/s 22 assessee should be the owner of the property. Hence only the registered owner Mrs. x can claim interest on loan and that too only after the completion of construction.
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