house property
This query is : Resolved
sanalkumar t m
(Querist)
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
CA Anand Sarda
(Expert)
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.
sanalkumar t m
(Querist)
09 December 2009
Hai Anand thanku for giving quick advice
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