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.
CA Ankur Jain
(Expert)
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.
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