Interest on Housing Loan - Ansisteral Property
This query is : Resolved
05 August 2009
I had constructed a house in the property which will be mine after my father as per my father's will.
My company has regected my application stating that I am not the owner and hence excemption can not be claimed.
I have got the loan and the EMI is paid by me.
Am I eligible for excemption of Interest under income tax act.
Regards
Manosh
My company has regected my application stating that I am not the owner and hence excemption can not be claimed.
I have got the loan and the EMI is paid by me.
Am I eligible for excemption of Interest under income tax act.
Regards
Manosh
06 August 2009
its not exemption of interest rather deduction for interest paid under sec 24(b) of income tax act.
The deduction is allowed only to the owner of property and as you are not the owner, deduction is not allowed to you.
The deduction is allowed only to the owner of property and as you are not the owner, deduction is not allowed to you.
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