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Interest deduction on joint loan but single ownership

Tax queries 295 views 3 replies

A) Joint loan is borrowed for purchase of house property by husband and wife , and the property is purchased in the name of wife. Can the husband claim interest deduction as self occupied property even tho he isn't the owner?

B) are clubbing provisions attracted  as the loan taken was finally used to purchase the property in name of wife , doesn't It constitute as gift ?

Replies (3)
A) No, Husband cannot claim since he is not the owner so how can he claim as self occupied property. However please check sec 27 for deemed ownership also
Interest deduction on joint loan
A. no 24b can be claimed only in the name of wife.

b. clubbing provisions are not applicable


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