Rebate on Interset paid on Housing Loan
This query is : Resolved
25 December 2008
Sir, I have taken a home loan based on my salary. My wife is house wife with no source of income. Entire loan EMI is paid by me but my wife is coapplicant in my home loan. The house i purchased is in the name of my wife.
Will I be eligible for Tax rebate on interest paid by me?
Will I be eligible for Tax rebate on interest paid by me?
25 December 2008
Yes you are eligible by virtue of sections 27(1) and 64(1)(iv) of The Income Tax act,1961 read along with Andhra Pradesh High Court decision in the case of Dr. N.Kumara Rao Vs.CIT 169 ITR 128.
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