Repayment of interest and principal of house building loan

This query is : Resolved

Sabita Sahoo (Querist)
Follow

22 March 2018 If the house property is registered in the name of wife and husband and bank loan is taken on joint basis.both husband and wife are service holder.If income of wife is below taxable limit under income tax act then the can the husband claim whole interest amount and principal amount which are repayed to bank from joint loan account as exemption under income tax or on proportion basis?

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

23 March 2018 In the absence of any details about the amount of emi contributed by both, the deduction is available only on proportion basis

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Chaitanya Voolla

MEHUL M. KEVAT

K.S. ANANTHARAJAN

v.rama krishna

DEEPAK BHARGAVA

Subscribe Now

Repayment of interest and principal of house building loan

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

CA Final

GST CONSULTANT

Accountant

GST CONSULTANCY

Article Assistant