Dear Friends.
Mr.A and his wife Mrs.B jointly takes a housing Loan
Now my question is
Can Mr.A claim the entire housing loan interest paid by them for Income Tax deduction
Thanks In Advance
BINUMS
3 Replies
suneet
(CA FINAL)
(421 Points)
Replied 01 August 2009
yes he can claim only that amount of deduction which he has paid
so if you pay whole you get full deduction or vice versa
BINU.M.S
(MCOM MBA ICWAI-Inter(Studying))
(197 Points)
Replied 01 August 2009
But the next question is if the loan statement received from the bank says the the loan is in the name of both the parties.(Mr.A and Mrs.B in this case)
Then any problem will arise for Mr.A for claiming the entire amount of interest in his name
CA Manish K Dhoot
(CA, B. Com, NCFM, CPCM)
(5015 Points)
Replied 02 August 2009
Deduction of interest will be available to both Mr. A and his wife.
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