Housing loan deductions
This query is : Resolved
16 April 2011
Mr. A (Father) availed a Housing Loan as co- Borrower with Mr. B (son). The Property was in the name of Mr. A (father)and repayments were made only by Mr. B (son).
Is Mr. B (son) who has made repayments but does not have property registered in his name is eligible for Interst and Housing Loan repayment benefits under IT Act.? Please quote relevent sections and case laws if any.
Is Mr. B (son) who has made repayments but does not have property registered in his name is eligible for Interst and Housing Loan repayment benefits under IT Act.? Please quote relevent sections and case laws if any.
16 April 2011
Deduction for interest under section 24(b) can't be calimed by Mr. B since he has no income to be computed under the head "income from house property" since Mr. A being the owner of the property. Like wise 80C(2)(xviii) also can't be calimed by Mr. B on the same analogy.
Message likes :
1 times
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
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR returnFY25-26
- BIS Certificates
- Itr 1 processing
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
