Housing loan interest
This query is : Resolved
16 July 2014
For 3 years housing loan interest is claimed equally by wife & husband as the house & loan is in both name. For current year wife dont have any income. In this case husband can claim full interest in his return for current year & subsequent year?
17 July 2014
the ans is no as its allowed only by the loan takers and to the extent allowed under sec 24(b)
for eg if int is 50,000 and husband pays only 50,000 and his share is just 25,000 then only 25,000 is allowed as the loan is jointly taken.
for eg if int is 50,000 and husband pays only 50,000 and his share is just 25,000 then only 25,000 is allowed as the loan is jointly taken.
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- Non filing of I T Returns
- UDIN ISSUE
- Salary from Qatar in Dollars in India
- Tax rate change regarding
- SALARY CAN BE CAPITALIZE
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
