Housing loan interest
This query is : Resolved
Quick Summary
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?
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.
* 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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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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