Interest and principal on housing loan
This query is : Resolved
04 February 2016
Is it compulsory that the property must be in the name of assesee to claim the benefit of interest u/s. 24(b) and principal u/s. 80C for housing loan which is in the name of assesee. For example property is in the name of Father who is actually retired and housing loan is taken in the name of son (assesee) for reconstruction of property after total demolition. Housing loan instalments are paid by son (assesee) though the finance company has taken fathers name in loan application as co-applicant.
04 February 2016
Yes.
If the ownership of the new house ,in municipal records, rest with Father, son will loose both the benefits.
If the ownership of the new house ,in municipal records, rest with Father, son will loose both the benefits.
04 February 2016
Thanks Mr. B. Chackrapani Warrier
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Multiple trade mark
- Value of property in capital gain
- Form 121 & TDS deduction
- Copyright software
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
