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?
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