Regarding claiming of interest on loans u/s 24 (b)
This query is : Resolved
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.
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
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