Income from house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 I have just purchased a house in the joint name of my spouse and me. Further, we took a loan in name of both me and my spouse but the emi is going from my spouse account?????

So, my question is whether i can also claim relief U/S 24 and 80C for the proportianate account or not and if yes pls give ref of Rule/ notification etc....

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 August 2013 Before replying your query, I would like to ask you about your plan.
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Whether in future would you like to start paying the loan installments ?
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How much you have paid except the loan amount ? Or confirm your co-ownership share.
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Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 No, all installment will be paid by my spouse only and My co-ownership share is around 30%

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 August 2013 As repayment is made by the spouse only, it is clear that the loan was taken to meet the obligation of your spouse in respect of his/her share.
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So in my view , the spouse only can claim the benefits attached with the loan.
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Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2013 Can we get any reference....in this regard

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