my uncle is owing a house and paying housing loan.
now he gifted the property on me.
can I now claim the housing loan interest from the date of transfer, because the ownership is transferred.
please advise
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Housing loan on gifted property
Replies (6)
Quick Summary
It seems the house is not registered in your name, As without closure of the home loan, it cannot be transferred.
If bank has approved the loan to be transferred in your name, go ahead, no issue.
It cannot be transferred
I remain the owner once gifted with gift deed registered with registration department, why not I can claim, any specific section to support not eligible to claim deduction on interest on housing loan
1. title to the house property does not pass to person whom the gift has been made.
2. the deed has to be officially registered in his name.
3. mutation in his name.
2. the deed has to be officially registered in his name.
3. mutation in his name.
Yes you can claim
Yes....
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