Housing loan interest

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RADHA KRISHNA (Querist)
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03 March 2021 My wife n myself income tax assesses n wants to construct a house on a land owned by her by taking housing loan from bank having joint account, her's is the first name. Shall I make payment through my salary account n claim HBA interest?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 March 2021 Yes, provided the following conditions are fulfilled.

* the loan should be in your name or in the joint names of yourself and spouse.

* the house to be constructed should be in your name or in the joint names of yourself and spouse in government records.

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O.D.SHARMA

O.D.SHARMA (Expert)
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04 March 2021 Until your name is not there no benefit on loan /interest..your name is must and loan repayment from your ac is needed

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