House property from rented out property
This query is : Resolved
18 February 2013
Hi,
I have a property that is rented out while i myself stay in a rented property in the same city.
This property was acquired on a joint home loan between self and wife with the sole purpose of making it easy/seamless in the untimely event of my death for my wife to take over the loan payments.
All loan payments and the EMIs are paid effectively by me only.
However my company seems to think that since it is a joint loan, the interst amout should be split between the 2 of us instead of being claimed only by me ? Is that really true?
I have a property that is rented out while i myself stay in a rented property in the same city.
This property was acquired on a joint home loan between self and wife with the sole purpose of making it easy/seamless in the untimely event of my death for my wife to take over the loan payments.
All loan payments and the EMIs are paid effectively by me only.
However my company seems to think that since it is a joint loan, the interst amout should be split between the 2 of us instead of being claimed only by me ? Is that really true?
MILIND S. SHETH
(Expert)
19 February 2013
In my opinion the interest on housing loan shall be allowed to person paying the EMI even in case of joint loan
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