house property

This query is : Resolved

sanalkumar t m (Querist)
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09 December 2009 MR A & his Wife purchased a house property (self occupied)in their joint name with 50% share. Mrs A took a loan from the bank , interest for the previous year came to 150000,Can Mr A claim 150000 deduction u/s 24? or Can Mr & Mrs A claim 150000 each ?

PLease kindly advice me

CA Anand Sarda

CA Anand Sarda (Expert)
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09 December 2009 If the loan is taken only in the name of Mrs.A, then only she can claim the interest deduction u/s.24 and repayment of loan u/s.80C.

Though even Mr.A is Co-obligant, he cannot claim the deduction

For claiming the deduction, he should be Co-Borrower.

sanalkumar t m

sanalkumar t m (Querist)
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09 December 2009 Hai Anand thanku for giving quick advice

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