Home Loan
This query is : Open
22 September 2017
A Home Loan was taken by Father and son as both joint applicat.
The Flat is in the name of father
EMI is paid form father account where the son transfers money from his salary earn and father have savings
Does deduction of section 24 of act will be applied to both or just for the father
Principal repayment deduction can b claim by both or just by father
Can the son claim Hra or no
22 September 2017
ce the house is in the name of father, only he can claim income/loss/deduction....
22 September 2017
Agree.
To claim tax benefits from home loan, assessee should be a owner / part owner of the house. The fact that he pays the interest from his funds is not enough
To claim tax benefits from home loan, assessee should be a owner / part owner of the house. The fact that he pays the interest from his funds is not enough
22 September 2017
Yes. I agreed with Both Experts....
The house is only father's name. So, the benefit avail only to fathers hand....
In case the house is both name then only both can take the benefit as per share....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
