Housing loan repayment

This query is : Resolved

RAMAKANT (Querist)
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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

CA Chirag Haraniya

CA Chirag Haraniya (Expert)
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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....

RAMAKANT

RAMAKANT (Querist)
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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

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