Housing loan
This query is : Resolved
16 December 2018
Sir,
We had purchased one 1 BHK house in 2015 which was registered in my father name & loan was taken from OBC Bank by my father. This property is under construction till date. My father retired in 2018 now i have transferred loan in my Name but property still registered in fathers Name. Question is can i get home loan deduction for EMI paid by me. It will be great help if you could suggest relevant sections
Thanks
We had purchased one 1 BHK house in 2015 which was registered in my father name & loan was taken from OBC Bank by my father. This property is under construction till date. My father retired in 2018 now i have transferred loan in my Name but property still registered in fathers Name. Question is can i get home loan deduction for EMI paid by me. It will be great help if you could suggest relevant sections
Thanks
Nikhil Kaushik
(Expert)
16 December 2018
without ownership, you cannot claim the deduction.
17 December 2018
Thanks for your reply.So how to claim deduction in this case as i have paid EMI of housing loan since entire year.
Nikhil Kaushik
(Expert)
17 December 2018
already answered. You cannot claim deduction without ownership. plus it is still an under-construction property. So deduction is anyway not allowed till the constructions completed.
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