Regarding claiming of interest on loans u/s 24 (b)

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ANIL RAMDURG (Querist)
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03 August 2011 As the property is in the name of wife. loan sanctioned jointly to the husband and wife. whether the husband and wife both can claim the interest on loan u/s 24 ( b) ?

rajiv

rajiv (Expert)
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03 August 2011 Only Wife can claim deduction of interest u/s 24(b). Husband is not eligible as he is not the owner of house property.also note that, wife should have paid the house loan instalment herself. if husband has paid the instalment, then no body will be able to claim the interest deduction.

Preety Parik

Preety Parik (Expert)
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03 August 2011
Plse check out :-
1) Who has paid the margin money of loan?
2) who will be paying the installments of loan??
3) who has contributed for any amount of Purchase consideration of property??.
3) Defacto ownership of property is sufficient to claim interest u/s 24(b).

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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04 August 2011 I agree with Preety

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