Flat purchase in the name of wife and husband

This query is : Resolved

Tapash Kumar Biswas (Querist)
Follow

04 March 2018 Please advice the Tax applicabilty on a/c of a Flat Purchase in the name of Wife and Husband as well as, If any Housing Loan taken in the name of Wife.

Should we take 50-50 ratio of the value of the Flat while preparing the Balance Sheet for Filing of Income Tax Return.

Valued reply of the above should help us to take decision and Filing of Income Tax Return

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

04 March 2018 It's better you take proportionately so that both can get benefit if you have Taxable income.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

05 March 2018 Showing it as jointly owned is possible. Only the wife can claim the Tax benefits of home loan as the loan is taken in her name only.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Ishwar Radhakisan Tawani

Lalan Kumar Jha

Kalyan Guha

Rajat Khandelwal

Sanoj T

Subscribe Now

Flat purchase in the name of wife and husband

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

CA Final

GST CONSULTANCY

Article Assistant

GST CONSULTANT

Accountant