Deduction of interest & loan repayment of building loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 April 2016
One employee has purchased a house jointly with his wife after getting laon from bank.
both are paying 50% of bank interrest and 50% laon repayment installment. Husband
has taken his wife portion of house on rent because he getting HRA from his company.
Income of both are taxable.
Now my query is that whether his wife will get benefit of building loan interest and loan
repayment installment in her return of income. She will also include rental income after
30% abatement in her income.
both are paying 50% of bank interrest and 50% laon repayment installment. Husband
has taken his wife portion of house on rent because he getting HRA from his company.
Income of both are taxable.
Now my query is that whether his wife will get benefit of building loan interest and loan
repayment installment in her return of income. She will also include rental income after
30% abatement in her income.
08 April 2016
The HRA claim by the husband is no justifiable. since he also a joint owner of the home. as joint owners both are eligible for deduction for interest, rental income is not justifiable
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