please help friends urgent request
This query is : Resolved
16 March 2011
Kindly advice us regarding the point given under IT,Act.
1.Purchase of property registered in the name of wife who is is unemployed.
2.Home Loan taken in joint name,since wife is a house wife and husband is employed
3.Whether husband can claim the interest portion of loan as deduction from income U/S 24(b)
1.Purchase of property registered in the name of wife who is is unemployed.
2.Home Loan taken in joint name,since wife is a house wife and husband is employed
3.Whether husband can claim the interest portion of loan as deduction from income U/S 24(b)
17 March 2011
In my view wife is the owner of the property. For claiming deduction of interest the person should be owner or deemed owner of the property.
taxindiaconnect
(Expert)
25 April 2011
yes, the husband can claim the deduction of interest if he is making the payment of loan from his inocme and he has poroof of that payment.
Vidya Jain
(Expert)
13 May 2011
I agree with Mr.Ramprasad. Since husband is neither owner nor deemed owner he would not be allowed deduction U/S 24(b).
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