Regarding claiming of interest on loans u/s 24 (b)
This query is : Resolved
ANIL RAMDURG
(Querist)
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) ?
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
(Expert)
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).
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).
04 August 2011
I agree with Preety
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- 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?
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
