Income tax - house property
This query is : Resolved
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.
21 November 2013
no..if you are not the owner you cannot claim such deduction.
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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.
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
however, you may refer to this article to consider different possibilities:
https://www.hindu.com/biz/2007/07/09/stories/2007070950031500.htm
25 November 2013
Thanks sir.
your reply very useful for me.
your reply very useful for me.
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