Deduction for Housin lOan & Intt
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 November 2010
Please suggest
The land is name of father of Mr X
The housing loan is taken in the name of Mr X and his father.
Instalments are paid through the A/c Of Mr X only.
1.Whether Mr X can take full Benefit u/s 24 & 80C.
or
he is entitled of Half benefit
or
he is not entitled for any benefit(as land belongs to his father only)
Thanks in advance
The land is name of father of Mr X
The housing loan is taken in the name of Mr X and his father.
Instalments are paid through the A/c Of Mr X only.
1.Whether Mr X can take full Benefit u/s 24 & 80C.
or
he is entitled of Half benefit
or
he is not entitled for any benefit(as land belongs to his father only)
Thanks in advance
05 November 2010
1.Interest on borrowing can be claimed as deduction only by the person who has acquired or constructed the property with borrowed fund. Ref:- section 24(b).
2.The house property income should be assessable in the hand of asseessee. Or in simple terms assessee should be the owner of the house property. Ref:- Section 80C.
Pl check your eligibility in view of the above conditions.
2.The house property income should be assessable in the hand of asseessee. Or in simple terms assessee should be the owner of the house property. Ref:- Section 80C.
Pl check your eligibility in view of the above conditions.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR 2 Short Term gain & Long term gain
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- TDS 194R on GST effected
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
