Hbl loan

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rinku prasad (Querist)
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26 June 2016 Respected Sir,

I want to know the tax treatment about a case where a husband took a HBL loan in his own name but he purchase the house in his wife name . As the loan was taken by the husband so he still paid the loan amount monthly. Here I want to know that can the husband take the benefit of HBL deductions in Income Tax.Both the individuals are regular return filler.

Amol S Joglekar

Amol S Joglekar (Expert)
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26 June 2016 The house needs to be in the name of the person who is claiming the benefits.
In the above case, the wife can enjoy the benefits of INTEREST, although paid by husband

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