Interest on Home Lian
This query is : Resolved
Viral Shah
(Querist)
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??????
CA MANOJ GUPTA
(Expert)
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.
Praveen Sharma
(Expert)
08 June 2011
Better is to take Joint Home loan for claiming dual benefit.
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