Sir,
One of my client have purchased 2 flats by name of her wife and have home loan on one of them. His wife is house wife and source of income is her husband's income. Moreover emi paid by her husband's account and 60% payment paid by his bank account .
Can he tax home loan tax benefit? Or some other related tax benefit?
In registered paper husband's share not given?
Please advise
Regards
Vikas
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home loan tax benefit
Replies (6)
No...
Only deduction available to Owner of the Property...
Only deduction available to Owner of the Property...
only she can avail the loan deduction benefit. but is loan is their both name then he also can claim the benefit of Home loan.
For deduction of interest u/s. 24b of IT act, the assessee should be owner or joint owner of the property.
emi deducted by his husband a/c and payment made through her husband a/c when property registered. stamp duty of Rs 1.10 lac paid by his a/c
any where chance to get relief?
No. He should have been co-owner of the house and co-borrower of the loan to get home loan tax benefit.
if someone is co-borrower of home loan but do not have share in property.
can he avail tax benefit under home loan?
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