Interest on housing loan (FY 2022-23)

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This query is : Resolved

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This discussion clarifies whether an individual can claim tax deductions on housing loan interest if they are the borrower and making EMI payments, but the property has been gifted to their married daughter and is registered in her name. The consensus is that to claim the rebate, the assessee must be the owner or co-owner of the property and the borrower of the loan. Simply making payments is insufficient if ownership has been transferred.

Kowsalya

Kowsalya (Querist)
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26 July 2023 Can assessee claim interest on housing loan, if the property is gifted to married daughter (it is on her name) and assessee is the borrower and emi payments are made by him? Kindly resolve

Thanks in Advance.