Payment of housing loan of my wife

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This query is : Resolved

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If you use your superannuation fund to fully repay your wife's housing loan, the repayment itself is not considered taxable income. You can treat the amount paid as a gift to your wife, which means no tax will be incurred by either of you.

Jagdish Prasad Dubey

Jagdish Prasad Dubey (Querist)
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18 April 2020 Dear Sir
My wife availed housing loan in her sole name and o/s is around Rs 35 Lacs. if I repay entire loan from my superannuation fund, will it be taxable to me or my wife.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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19 April 2020 question of taxable not arise for repayment of housing loan

C.A. Mayur J. Raiyani

C.A. Mayur J. Raiyani (Expert)
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24 April 2020 If you square off your wife's loan account from your money then you can treat that amount as gift to your wife. So it will not be taxable at all.

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