Dear Sir,
I have a queary regarding House Loan exemption under Income Tax. If a payment make by individual Person of House loan principal & interest amount by him but the House ownership on his wife name & there is no ownership in house on the name whose person pay the amount so is he eligible to take deduction of Interest and Principle amount under income tax act?
Not eligible. For house loan interest deduction the assessee should be co/owner of the house
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