Housing loan


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
21 December 2012 Husband & wife purchased a house taking hosing loan from a bank. The property is in name of wife. both r working.
Both have take the loan 50 % each. Can each one can take benefit of housing loan for income tax ? if not who can take that benefit ?

21 December 2012 If the loan is on behalf of both the name then each one can take the benefit of housing long subject to their contribution to loan percentage in your case it 50% each can claim.

OM SAI SRI SAI JAI JAI SAI

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
22 December 2012 If loan is taken now & possesion of house will be taken in next year what benefit can be taken in Incometax this year.

22 December 2012 In such a situation interest can not be claimed before construction is completed.
It can be claimed as 1/5th in every year from the year of completion.
.
Repayment of loan amount can be claimed U/s 80C.
.

CA Manish (Expert)
22 December 2012 The one in whose name the property is registered can take the benefit.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details
Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
10 November 2026
Direct Tax Manager

CAAQ CONSULTANCY PVT LTD

New Delhi

CA Final

View Details