House Property
This query is : Resolved
24 August 2009
To claim interest on loan in house property Is it necessary that the interest certificate to be in the same name?
Eg. interest certificate in father name Can the son/spouse claim interest paid in their house property income
Eg. interest certificate in father name Can the son/spouse claim interest paid in their house property income
chetan soni
(Expert)
24 August 2009
interest certificate generally issued to the owner of the property. Also note sec 24(b) is to give the benefit to the owner of the property.
When certificate is issued to father that means father has a legal ownership of the property. If SOn is also a joint applicant then he can claim 50% of the interest amount whether or not his name appeared on the certificate.
When certificate is issued to father that means father has a legal ownership of the property. If SOn is also a joint applicant then he can claim 50% of the interest amount whether or not his name appeared on the certificate.
CA.Nikhil Gupta
(Expert)
24 August 2009
AGREE
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