hi.. one of the may client has a house property in the name of his wife and they both husband & wife have taken a housing loan in respect of such house property. my query is that wherther hasband has right to claim exemption in respect of the interest paid on such housing loan while the property is in the name of his wife and as per provision of income tax neither he is not owner of the house property nor he trasferred the house property of his wife.
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Interest on housing loan
Replies (3)
Wife can claim deductions toward interest paid. Husband cannot claim. He is not the owner or co-owner.
Thankyou sir.
But, however asseessee has another house, can he claim that the loan has baan used for renovation of the house
Interest deduction allowed for renovation or repairs in house is upto 30,000/-. But one has to be the owner or co-owner of the house.
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