DEDEDUCTION OF INTEREST ON HOUSING LOAN

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies whether a husband can claim a deduction for housing loan interest under Section 24(b) when the loan is in both names but the property is solely owned by his wife. The consensus is that only the legal owner of the property, in this case the wife, can claim the interest deduction. The husband cannot claim it as he is not the owner.

PANKAJ KUMAR SRIVASTAVA

PANKAJ KUMAR SRIVASTAVA (Querist)

14 January 2020 RESPECTED SIR,
A HUSBAND AND WIFE HAVE TAKEN HOUSING LOAN IN JOINT NAME,BUT THE PROPERTY IS PURCHASED IN THE NAME OF WIFE.
CAN HUSBAND CLAIM DEDUCTION OF INTEREST OF RS.200000.00 U/S 24 (b)

SIR PLEASE GUIDE

WITH REGARDS

RAJA P M

RAJA P M (Expert)

15 January 2020 No... Interest can be claim only by wife as property owner.

Amol S Joglekar

Amol S Joglekar (Expert)

15 January 2020 No. Since property is not owned by husband, he can NOT claim deduction.

PANKAJ KUMAR SRIVASTAVA

PANKAJ KUMAR SRIVASTAVA (Querist)

15 January 2020 BUT SIR U/S 24(b) OF THE ACT,IT IS NOT CLARIFIED

Amol S Joglekar

Amol S Joglekar (Expert)

16 January 2020 what clarification do you need from section 24(b)?
When a property is not owned by husband, there arises no question of claiming deduction. And for that no clarification is required.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now