Hello All
If a newly purchased property gets registered in name of wife, then can her husband claim the decuction of HRA while paying rent to her.
The wife would file ITR with income head House Property and would claim benefit of Interest on Housing Loan under Let out property.
The EMI of the loan would be served through a joint account in which Husband would pay the monthly rent and wife would also contribute some amount as the wife is also earning.
Alternatvely, the loan could be served from Husband bank account and the amount over and above the monthly rent would be repaid by wife to husband on a monthly basis.
by doing this , husband would be able to claim HRA deduction from his salary and wife would claim Interest.
My question is , is this possible and if yes, then does the method suggested by me is fine or does it needs any finetuning
Thanks
Naveen
CAclubindia
