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?
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Relief u/s Section 89
- TDS Challan Code
- Lease agreement and tax on sale
- CCFS 2026 Schemed
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
