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Deduction under sec 24b and 80c
wife is the owner of the house and paid the stamp duty plus registration fee but in the loan agreement she and her husband are co applicant. husband is paying whole emi. what will be the eligible deductions for each of them and to what extent.
Replies (5)
Quick Summary
Only husband eligible for ded u/s 24
If wife is filling tax return she will take 80 c and 24b wholly husband will not as per your saying she is the owner of house
if husband is a co owner along with wife then apart from stamp duty or registration fees which is solely given by his wife he will take 50 %of 24b and 80 C and remain 50% by his wife
if husband is a co owner along with wife then apart from stamp duty or registration fees which is solely given by his wife he will take 50 %of 24b and 80 C and remain 50% by his wife
He will take 50% of 24B and 80C and it will remain 50% for his wife.
Husband can take 100 deduction for interest. Since husband can buy home in name of his wife. relevant case law of SC
@ Krishna Chaudhary can u plz share the case law
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