Home loan for income tax
This query is : Resolved
24 June 2014
I have a query. While filing an Income Tax Return I found that a property was purchased in joint holder name A and B but while taking Home Loan for the same it was only taken in the name of A. Now my question is, Interest paid on Home Loan shall be fully taken into Income Tax return of A (since he fully paid the Home Loan) or shall it be divided into both the coowners of Property.B does not have any other income. An urgent reply is needed.
24 June 2014
only A should be claiming deduction in this case...
24 June 2014
Thanks a lot Nikhil..
24 June 2014
You're welcome preeti..............
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
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Multiple trade mark
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- 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
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
