deduction of interest on house property under section 24(b)
This query is : Resolved
RITESH MAHESHWARI
(Querist)
06 December 2010
if home loan is taken on joint name of husband & wife & whole interest deduction is claimed by husband from beginning can he do so
can A.O. deny it please quote relevant case law
can A.O. deny it please quote relevant case law
06 December 2010
I cnt refer wid any case law... But interest is to b deducted for half part only.., i.e i dnt know how husband has been allowed to claim whole amount at his name.... And btw, what about wife, is she earning any income??? then by clubbing, inderectly husband can claim whole of interest...
Manmohan ACA, CS
(Expert)
06 December 2010
if home loan is taken on joint name of husband & wife & whole interest deduction is claimed by husband from beginning itit is allowed and AO can not deny if the loan is taken in his(husband) name and he is paying interest.
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