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Exemption

This query is : Resolved 

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.

Impractical question

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.

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

IF THE PROPERTY IS IN THE NAME OF WIFE, HOW THE LOAN CAN BE IN THE NAME OF THE HUSBAND?

it would be a case of Joint Loan



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