Deduction of intt and home loan payment
This query is : Resolved
03 July 2011
I have taken o home loan from Bank in the name of myself & my wife. Home constructed on land which i gifted to my wife. EMI payment is paying through my bank saving account out of salary income. I just want to know about the deduction of interest and payment. My wife income is not taxable and my taxable income is more than 5 lacs.
03 July 2011
how a person can gift the property when the property is morgaged under a bank loan?
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