Housing loan repayment
This query is : Resolved
23 May 2014
IN IST YEAR REPAYMENT TO JOINT LOAN BY HUSBAND & WIFE WAS RS.1,50,000 THE SAME WAS SHARED BY THEN @ 50% EACH I.E. 75,000 EACH.
IN NEXT OR SAY SECOND YEAR THEY CAN CLAIM THE SAME @ 60:40 I.E. 90,000 AND 60,000 FOR HOUSING LOAN BENEFIT
RAMAKANT
IN NEXT OR SAY SECOND YEAR THEY CAN CLAIM THE SAME @ 60:40 I.E. 90,000 AND 60,000 FOR HOUSING LOAN BENEFIT
RAMAKANT
CA Chirag Haraniya
(Expert)
23 May 2014
Nope they can not... Allowability of claim depends on proportion of Joint Ownership and loan should be applied jointly.... To claim housing loan certificate is required from lender at the end of the year, so if loan is not in joint name husband or wife may not be able to claim benefit....
26 May 2014
AGAIN I AM SUBMITTING MY QUIERY
JOINT LOAN HUSBAND AND WIFE- REPAYMENT STARTED 2013-14.
IN THE YEAR 2013-14
YEARLY REPAYMENT 1,50,000
THE HUSBAND AND WIFE CLAIMED IN EQUAL RATIO I.E. 75,000 EACH.FOR THE INCOME TAX
IN THE YEAR 2014-15
YEARLY REPAYMENT WILL BE RS.1,50,000
NOW CAN THEY CHANGE THE RATIO ?
YEAR 2014-14 CAN THEY OBTAIN THE 90,000 AND 60,000 RESPECTIVELY
SORRY I COULD NOT ABLE TO ILLUSTRATE WHAT I WANT TO SUBMIT
RAMAKANT
JOINT LOAN HUSBAND AND WIFE- REPAYMENT STARTED 2013-14.
IN THE YEAR 2013-14
YEARLY REPAYMENT 1,50,000
THE HUSBAND AND WIFE CLAIMED IN EQUAL RATIO I.E. 75,000 EACH.FOR THE INCOME TAX
IN THE YEAR 2014-15
YEARLY REPAYMENT WILL BE RS.1,50,000
NOW CAN THEY CHANGE THE RATIO ?
YEAR 2014-14 CAN THEY OBTAIN THE 90,000 AND 60,000 RESPECTIVELY
SORRY I COULD NOT ABLE TO ILLUSTRATE WHAT I WANT TO SUBMIT
RAMAKANT
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
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
