Tax impact on home loan
This query is : Resolved
PRAVIN PATEL
(Querist)
10 July 2013
i have purchased house property on 15-12-10 on my wife's name. Loan taken from my salary account. I have sold the same property on 29-12-12. Me n my wife both are filling return. Mine is salary return n she is having Consultancy income
Can i show principal amount paid for home loan as loan given to to my wife??
what implication of income tax will effect to our income tax return for the particular year.
Can i show principal amount paid for home loan as loan given to to my wife??
what implication of income tax will effect to our income tax return for the particular year.
CMA Ramesh Krishnan
(Expert)
09 September 2013
Incase you are also joint owner, you can claim the interest and housing loan. otherwise shown as loan given
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