Ownership of house
This query is : Resolved
24 October 2007
Hi,
I have purchase a house, wherein the first name is of my mother and second name is of mine. All the money has been paid from my mothers account. In this case I would like to know, would I be considered as the co owner?
I have purchase a house, wherein the first name is of my mother and second name is of mine. All the money has been paid from my mothers account. In this case I would like to know, would I be considered as the co owner?
25 October 2007
Yes. Either the first or second name should be that of the co-owner.
01 November 2007
you are a co-owner of the property.
10 January 2008
IN THE ABOCE CASE I WOULD LIKE TO KNOW IF THE HOUSING LOAN IS CONCERNED CAN I CLIAM THE ENTIRE INTEREST ON HOUSING LOAN FROM MY INCOME AS THE SAME IS PAID FROM MY ACCOUNT
19 March 2008
Deduction of interest on Housing loan is based on accrual basis.
Whether u have paid it or not is irrelevant.
As per the agreement what is your share.
To that extent you will be eligible for interest on housing loan and calim deduction.
Whether u have paid it or not is irrelevant.
As per the agreement what is your share.
To that extent you will be eligible for interest on housing loan and calim deduction.
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