Interest on home loan repayment
This query is : Resolved
21 February 2014
Sir
Assume A is Husband[Retail Business man] B is wife{Govt.Employee] both applied Housing loan jointly. bank Loan sanction in the name of B [wife],but the property registered in both names jointly . The repayment of housing loan not deducted from the income of B, Since being a Govt employee the deductions is possible only if the loan sanctioned through department through proper channel,But she availed from other source. under this condition could id possible to claim the HL repayment from her husband's return of income.
Please clarify me
Thanking you
With Regards
S M Basha
Assume A is Husband[Retail Business man] B is wife{Govt.Employee] both applied Housing loan jointly. bank Loan sanction in the name of B [wife],but the property registered in both names jointly . The repayment of housing loan not deducted from the income of B, Since being a Govt employee the deductions is possible only if the loan sanctioned through department through proper channel,But she availed from other source. under this condition could id possible to claim the HL repayment from her husband's return of income.
Please clarify me
Thanking you
With Regards
S M Basha
21 February 2014
it is not necessary for the govt/private employee to get the deduction in the form 16 itself. B (wife) can claim deduction under 24B and 80c on her own when she files her tax return
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