Rental income hp

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2014 If a flat owned by spouse, first owner is wife and flat has been given on rent by wife.

Is it possible that interest deduction on housing loan would be claimed by Husband and rental income would be aconsidered in the hand of wife?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 April 2014 well you may do so. but in such a case it would be assumed that your portion of house is still self occupied. accordingly, you should be entitled to claim only Rs 1.5 lakhs as interest deduction and your wife shall have to offer the whole of income to taxation.

Rupesh Jain

Rupesh Jain (Expert)
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18 April 2014 FLAT IN NAME OF WIFE RENT RECD BY WIFE.

BUT AMOUNT OF FLAT COME FROM WHERE?

PAY BY WIFE OR HUSBAND.
IF AMOUNT PAY BY WIFE THEN HUSBAND CALIM NO DEDUCTION.
BUT YOU MENTION FIRST OWNER IT MEANS SECOND NAME WILL HUSBAND .

AMOUNT INSTALLMENT ALSO PAY BY HUSBAND .

THEN RENTAL INCOME AND DEDUCTION OF INTT OR INSTALLEMNT WILL ALLOW TO HUSBAND NOT TO WIFE.

NOW YOU ARE NOT DO THAT . AFTER SECURTINY OR ASSESSMENT ITO CAN DO THAT.

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