Salarytds
This query is : Resolved
13 December 2011
For Income tax benefit againt the property for which the loan is taken is not transfered ?
13 December 2011
Unable to understand your question. Kindly reframe the same.
22 July 2025
Hey! It looks like your question is about **Income Tax benefits on home loans** when the property is **not yet transferred** or registered in your name.
Here's a quick rundown:
### Can you claim tax benefit if the property is not yet transferred?
* **Yes, you can claim tax benefits on the home loan interest and principal repayment under sections 24(b) and 80C** of the Income Tax Act even if the property is not yet transferred in your name, **provided you are the borrower of the loan and the loan is taken for purchase or construction of a residential property.**
* The key is that you must be the **legal owner** or **buyer with an agreement to sell** and have possession of the property or be in process of acquiring it.
### Important points:
* If the **loan is in your name**, you can claim deductions.
* The property **should be in the process of purchase or construction**.
* The transfer/registration delay does **not affect** your eligibility to claim tax benefits.
* If the property is **not transferred due to some delay but the loan and possession are with you**, deductions are allowed.
---
If you want, I can also explain the exact sections or conditions for claiming home loan deductions.
Does this answer your query, or do you want more details on TDS or salary aspects?
Here's a quick rundown:
### Can you claim tax benefit if the property is not yet transferred?
* **Yes, you can claim tax benefits on the home loan interest and principal repayment under sections 24(b) and 80C** of the Income Tax Act even if the property is not yet transferred in your name, **provided you are the borrower of the loan and the loan is taken for purchase or construction of a residential property.**
* The key is that you must be the **legal owner** or **buyer with an agreement to sell** and have possession of the property or be in process of acquiring it.
### Important points:
* If the **loan is in your name**, you can claim deductions.
* The property **should be in the process of purchase or construction**.
* The transfer/registration delay does **not affect** your eligibility to claim tax benefits.
* If the property is **not transferred due to some delay but the loan and possession are with you**, deductions are allowed.
---
If you want, I can also explain the exact sections or conditions for claiming home loan deductions.
Does this answer your query, or do you want more details on TDS or salary aspects?
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
Unanswered Queries
- Spice form, ? mark comes in address
- E bike purchase can get input in GST
- Interest on borrowed capital rental income
- TDS APPLICABILITIY
- Issue with PTEC Registration – PAN Already Used
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
