Deduction in respect of housing loan repayment
This query is : Resolved
06 August 2007
Husband and wife both are working in a private company. They taken housing loan from SBI, Instalment of HOusing loan is paid from both salaries. are they eligible for deduction inrespect of Interest as well as principal? what are procesure please clarify by doubt.
06 August 2007
On whose name the loan is?
Both may be repaying out of their salary.
But Whse name is entered in Loan agreement is the point to be considered.
He/She will only eligible for deduction.
Both may be repaying out of their salary.
But Whse name is entered in Loan agreement is the point to be considered.
He/She will only eligible for deduction.
07 August 2007
If salary of the both applicant is considered and the both person's name are appearing for property then they both can claim exemption.
That means both person's name should be there on loan agreement and registration documents.
That means both person's name should be there on loan agreement and registration documents.
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
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- Merchant Export Accounting
- SGST balance is there in credit ledger how to adjust for cgst
- Internship/Academic shown in Salary Pay Slip of a Doctor
- 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
CAclubindia
