Income from house property

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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)

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)

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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