09 February 2013
if husband gives cash to wife & wife get register the property in her own name & obtains house loan in husband name. can husband claim exemption of intt & deduction u/s 80c in his return.
10 February 2013
THe logic seems to be absurd but coming directly to question the interest and priciple amount can be allowed in the account of husband since the act specifically says that deduction can be claimed by a person who avails a loan but it doesnt mention that for whom the loan is taken up. Hence, to conclude the deduction can be availed by the husband assessee.
11 February 2013
its not possible because for claiming deduction the said person's computation should include income from House property from that house. and seeing your case husband could not tax the house income in his a/c as the same is chargeable to Wife. this is possible if The loan is jointly pursued or the property is registered in the joint names
CAclubindia
