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Claiming interest u/s.24(ii)

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 November 2013 Husband took loan for constructing home which in his wife name.How interest can be claimed by his wife.Any interest certificate format for that
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
02 November 2013 Home loan borrowers are entitled to tax benefits under Section 80C and Section 24 of the Income Tax Act. These can be claimed by the property’s owner.

In the case of co-owners, all are entitled to tax benefits provided they are co-borrowers for the home loan too. The limit applies to each co-owner.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
04 October 2021 If the home loan is solely in name of Husband, wife cannot claim any deduction.
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