Interest on Housing Loan

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Vinod Sharma (Querist)
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07 November 2007 Can a son claim Intt.or repayment of housing loan (Loan taken by son) but house is in the name of mother. If yes, any sec./rule/or case law, because the employer of son is not giving expemption to son. Another query, whether a son can claim two housing loan benefits.

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Vinod Sharma

Vinod Sharma

Vinod Sharma (Querist)
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07 November 2007 open query

o.velavan

o.velavan (Expert)
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09 November 2007 As per I.T.Act,there is no section which explicitly states that son is eligble for Int.on housing loan for the house in the name of mother.

But I need further clarification like following
1.Whether the son is enjoying any benefit from that house viz whether he is beneficial owner or not
2.Is there any agreement between and mother and son regarding leasing out of house to son
3.We have to see whether the mother has any income or not?If the mother has no income int.on housing loan may be claimed by son.

If ans.to question 1&2 is yes,son can claim interest on housing loan.But the assessee has to have all the details to satisfy the assessing officer.

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