Deduction 80c for tution fees
Querist : Anonymous
1) He’s co applicant for loan
2) The house property for which loan was taken in the name of his wife and the wife is house lady, didn’t have any taxable income.
Querist : Anonymous
Please give back up of the answer.
As far as concern of loan it was taken in jointly to get the benefit under house property if husband & wife have more than 1 houses.
But for claiming benefit individual have a specific ownership in house.
In this specific case he’s not the person who utilized the loan fund as per the registry document lady name was mention.
“As per the section 24(b) interest deduction claimed by the person who has acquired or construct the property from the borrowed fund”
but if an individual claim the loan principal & interest benefit and in future any liability arises than who will responsible for it.
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