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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
