Home loan for income tax
This query is : Resolved
Preeti Gupta
(Querist)
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.
Nikhil Kaushik
(Expert)
24 June 2014
only A should be claiming deduction in this case...
Preeti Gupta
(Querist)
24 June 2014
Thanks a lot Nikhil..
Nikhil Kaushik
(Expert)
24 June 2014
You're welcome preeti..............
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