Income tax - house property

This query is : Resolved

DHANDAPANI.S (Querist)
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21 November 2013 An assessee pays interest on capital borrowed for the purpose of construction of House Building for a financial year. But, the building is legally owned by his/her spouse. Anyone suggest me the interest is either deductible U/s.24 in the hands of the assessee or not.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 November 2013 no..if you are not the owner you cannot claim such deduction.

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DHANDAPANI.S

DHANDAPANI.S (Querist)
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21 November 2013 Thank you sir. I have another doubt.The owner of the property can deduct the housing loan interest paid by his/her spouse or not. The provision says owner can claim interest even the amount is not paid by him.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 November 2013 well provision doesnt say that!!

however, you may refer to this article to consider different possibilities:

https://www.hindu.com/biz/2007/07/09/stories/2007070950031500.htm

DHANDAPANI.S

DHANDAPANI.S (Querist)
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25 November 2013 Thanks sir.

your reply very useful for me.

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