Income from Housing Property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2011
A person has taken loan for purchase of house property. However has registered the property in the name of his mother only (who is also a co-borrower in the housing loan). All the payments of installment is made by son only. The property is on rent.
(Q1) Who can make claims for interest on loan paid?
(Q2) In whose income rent is added?
(Q1) Who can make claims for interest on loan paid?
(Q2) In whose income rent is added?
11 July 2011
rental beneficiary will have to pay the loan and account the whole transactions in own name.
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