The assessee is paying the Housing Loan Repayment on behalf of his expired mother in law, Is he eligible for 80C deduction? and Is he liable to show the Housing Loan Outstanding and Interest payment in his books of accounts?..
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Housing Loan Repayment
Replies (5)
In my opinion he can claim deduction if and only if the income from that house property is taxable in the hands of the assessee. or it should be self occupied property of the assessee. If it is not a self occupied property, the income from that HP should be assessed as his income.
If all these conditions are satisfied he can claim as deduction...
Dear K.K.
I am not sure but I think the question to be answered first in this situation will be who has inherited this property?
Is it assessee or his wife?
I am not sure, but housing loan repayment can be claimed only by the individual in whose name the loan is taken..
in case of interest repayment the loan and house should be in the name of same individual.
In the given case if the will is towards the assessee from mother in law , then the he can claim or else its not possible.
| Originally posted by : shyam sundar | ||
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I am not sure, but housing loan repayment can be claimed only by the individual in whose name the loan is taken.. in case of interest repayment the loan and house should be in the name of same individual. In the given case if the will is towards the assessee from mother in law , then the he can claim or else its not possible. |
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mother in law does not come under definition of relative u/s 80C so No deduction .rest experts will tell
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