Dear Expert,
can an individual taxpayer claim home loan deductions u/s 24 where the property is registered on his name and the loan has taken on his wife's name. Also he has pay all the EMI including principal and interest amount by his account to the lender. on this case, can he is eligible to claim the deductions for both u/s 80C and section 24(b) as per IT rules.
His wife is not an owner or co-owner of the property but she is borrower of the money.
pls advise the deduction is allowed to him or not.
Regards
Pradeep
CAclubindia
