Joint loan
This query is : Resolved
17 December 2008
Dear members...
my client got a loan from nationalise bank but that loan is in joint name now my question is that loan amount is credit in which name both jointly have filled his incometax return regularly.
Another question is Interest of that loan amount is debited in which person's account.
my client got a loan from nationalise bank but that loan is in joint name now my question is that loan amount is credit in which name both jointly have filled his incometax return regularly.
Another question is Interest of that loan amount is debited in which person's account.
17 December 2008
Loan is taken in the joint name but the property is not registered in the joint name the tax benefit could be claimed only by the person on whose name the property is registered.
18 December 2008
Yes, it is the registered owner who can claim the interest in the Income Tax Return.
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- HOUSING LOAN ISSUE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- Taxability of Partnership firm for FY 2025-26
- LIC maturity claim whether taxable
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- Sec 44ada applicable only or both
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Same demand raised for original as well as rectification request return
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
