income taxability
This query is : Resolved
02 August 2007
x is the owner of the land and she has given power of attorney to her husband for raising loan for construction of house on the said land. During repayment period husband claimed interest on loan against his income. After loan is fully repaid the property was let out. My query is in whose hands income from house property will be taxed?
Late CA Sampat Jain
(Expert)
02 August 2007
What was the power given .....power to raise loan on her behalf .....then loan is taken by the wife herself....and she is the owner of the house .....hence its her rent
03 August 2007
Yes,
Spouse is not deemed owner here.
So, X herself have to pay tax
Spouse is not deemed owner here.
So, X herself have to pay tax
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