house property
This query is : Resolved
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
PLease kindly advice me
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.
Though even Mr.A is Co-obligant, he cannot claim the deduction
For claiming the deduction, he should be Co-Borrower.
09 December 2009
Hai Anand thanku for giving quick advice
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