House property

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vikram (Querist)
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18 September 2015 Husband and wife want to be co-owners of a house property. They both want to apply loan. Wife's loan application gets rejected. Can husband take the whole loan on his name, from that amount give a part to wife as loan and both claim interest under 24(b)? Here the question is that husband takes the loan for purchase/construction of property but is using the amount to give loan to wife. Would there be any tax implications?

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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18 September 2015 They should apply for joint loan. Then they will be eligible for enjoying tax benefits u/s 24(b) and 80C.

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