Joint loan
This query is : Resolved
23 March 2012
Me and my wife are applying for join home loan. i will be paying all EMIs.
My wife will prepay some amt as and when she has surplus. I want to cliam all interst tax benifit while my wife wants to get reduction on principle amt that she wil repay.
is this possible ?
My wife will prepay some amt as and when she has surplus. I want to cliam all interst tax benifit while my wife wants to get reduction on principle amt that she wil repay.
is this possible ?
23 March 2012
It is possible but the terms of repayment should be predetermined between husband and wife. Hybrid system is not allowed. It must also be noted that the house is in whose name and whether the share in the house has been finalised or not if yes then in the ratios of share all benefits and claims shall be allowed
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
- Suggestions required for income tax filing-software (FY 2025-26)
- Tax liability on income of freelancer
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
