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House loans claims

IPCC 292 views 5 replies
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Senior Accountant
64 Points Posted on 22 August 2019
if assesse hold property by single owner , he taken a house loan from bank for construction house, the construction complete within one year. but the loan sanction on his wife name & credited to her account.

the query is that how claim this int. on hsg loan ? , can he claim u/s 24 & 80c ?
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On 22 August 2019 at 16:56 Report
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SEO Sai Gr. Hosp.
211560 Points Posted on 22 August 2019

Whether he is joint applicant in the loan?

581 Reply
On 22 August 2019 at 17:16
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Senior Accountant
64 Points Posted on 22 August 2019
yes , he is joint applicant in the house loan sanction letter.
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On 22 August 2019 at 18:45
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SEO Sai Gr. Hosp.
211560 Points Posted on 22 August 2019

Yes, he can claim home loan interest deduction u/s. 24(b), and principal deduction u/s. 80C of IT act; subject to prescribed limits. Advisable to get EMI payment receipt from banker in his name.

581 Reply
On 22 August 2019 at 19:23
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Senior Accountant
64 Points Posted on 22 August 2019
thank you so much 😊
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On 22 August 2019 at 20:26
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Student
23688 Points Posted on 22 August 2019
Claim Interest portion upto Rs. 2,00,000 ( if self occupied ) u/s 24(b) of the Income Tax Act 1961 and Claim Deduction u/s 80C of the Income Tax Act 1961 for repayment of Principal and Stamp Duty amount.
97 Reply
On 22 August 2019 at 23:26


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