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?
S.RAVICHANDRAN
(Expert)
25 October 2007
Yes. Either the first or second name should be that of the co-owner.
kumar arumugam
(Expert)
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
kartik_somu
(Expert)
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.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation error
- LLP audit and disclosure
- GST ITC as per notification 12/2023- central tax
- Form 144 TDS Return Validation Error – Mandatory Fields
- Capital Gains Tax on Inherited Mutual Fund
- Rent agreement of House of deceased person
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
