Sir,
I am an employee of Coal India Limited. Let me know if I purchase my 2nd house in the name of my wife, who is house wife and no income at all, can I get loan from bank and can I avail the income tax rebate for myself.
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Home loan query
Replies (3)
By virtue of the section 27 read with section 64 , you will be considered the owner for the
house property to the extent of your contribution in constructing or purchase of house and income from house property to that extent should be computed as per section 22 to 26 of the I T Act. As such , interest u/s 24 of the I T Act should also be allowed . and also deduction for payment of Principal amount u/s 80c
Hope it will solve your query :)
Thanks
Dear Sir,
Basically i working in Indian Company, prestenly i am on depution overseas assignment i am getting my indian salary as well as overseas allowence in UAE i am getting tax benifit
i am going for purchasing of consturcted flat on my wife name who is house wife, i am approching bank for loan (for 15years Span) in that i will be co applicant, in this case i can avail tax benfit for the principle loan amount as well as Intrest (in future).
Request you to respond.
Regards
Dear all,
Can my husband raise a loan on the land which is registered on my name? More over can he avail tax benefits for the same?
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