House property deduction if property in other name
This query is : Resolved
09 June 2013
Hi guys,
I have one query regarding house property .
I have recently purchased flat and taken loan from bank in joint name of father who is retired govt employee. Loan got sanction on the basis of income and eligibility of mine. Now i want to register the house in name of father only. Can any one tell me that whether i can claim deduction of Interest and principal of Housing loan since payment are being made by me only .
I have one query regarding house property .
I have recently purchased flat and taken loan from bank in joint name of father who is retired govt employee. Loan got sanction on the basis of income and eligibility of mine. Now i want to register the house in name of father only. Can any one tell me that whether i can claim deduction of Interest and principal of Housing loan since payment are being made by me only .
10 June 2013
Since your are not the owner of the property, you can't claim deduction for interest and principal repaid.
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