property reg. in name of wife but fund use for purchasing property given by husband. now to build house take home loan from bank in the name of wife but emi paid by the husband. so can husband take deduction interest amount in house property income or not
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If a property is registered in a wife's name, but the husband finances the purchase and pays the home loan EMIs, can he claim tax deductions on the interest paid? Generally, tax deductions for home loan interest are only available to the legal owner of the property. Therefore, the husband cannot claim a deduction if he is neither a co-owner nor the sole owner. However, if the property is jointly owned, the situation may differ.