Interest on Home Lian
This query is : Resolved
08 June 2011
Can I purchase a new home in the name of my mother and take the benefit of interest on the home loan in my personal Income tax return??
Or the requirement is that interest on home loan is available to only the person in whose name home is purchased?
Can I take home loan in joint names of me along with my father??????
Or the requirement is that interest on home loan is available to only the person in whose name home is purchased?
Can I take home loan in joint names of me along with my father??????
08 June 2011
INTEREST DEDUCTION IS AVAILABLE ONLY TO OWNER SO HOUSE MUST BE IN UR NAME
IF U GO FOR JOINT OWNERSHIP THEN U WILL GET PROPORTIONATE DEDUCTION
CA MANOJ GUPTA
JODHPUR
09828510543
IF U GO FOR JOINT OWNERSHIP THEN U WILL GET PROPORTIONATE DEDUCTION
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
1 times
08 June 2011
Manoj is right . You should ensure that the home is purchased in joint name.
08 June 2011
Better is to take Joint Home loan for claiming dual benefit.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Copyright software
- 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
