I am co owner in the property but not paying EMI. EMI is being deducted from my child account only who is also a co owner. Please let me know that -
1. Am I eligible for tax benefit?
2. Are both me and my child eligible for tax benefit ?
3. Only my child eligible for tax benefit?
Please expedite with reasons.
Menu
House loan tax benefit
Replies (1)
You both can claim the tax benefit provided you both pay the instalments in your proportion.
Condition you both should be co-owner, and co-borrower.
Recent Topics :
- On which amount 200% penalty under section 270A is
- RECEIVED INTIMATION U/S 399 FOR TDS PAYMENT ON PRO
- How do CA firms track SEBI/AMFI circulars and dead
- Jurisdictional validity of Sec 148 notice after fa
- Taxable Income or Not
- GST Input Tax Credit (ITC) on Camera Purchase &
- What makes CA Himanshu Singla different from other
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
Related Topics :
CAclubindia
