SRIRAM K N (Accountant) (37 Points)
26 March 2009Dear Sirs
I have taken a Housing Loan on the Property owned by my Wife.The Banker has extended the Loan based on the Co-ownership because of the Husband - Wife relationship between us.The Repayment is being done out of my Salary Income and my wife is not an Assessee.
Can I claim exemption of Interest as Loss from House Property and Principal under Section 80C,80CC,80CCC from my Salary Income.If so kindly let me have Section wherein it is explicitly stated so.
Abhinav Jain
(Manager)
(93 Points)
Replied 26 March 2009
You can take the benefit upto the share percentage ratio of the co-ownership.
pankaj kannaujiya
(accountant)
(61 Points)
Replied 26 March 2009
only u can claim for deduction bcause the payment done by only your account & not from your wife so she is not claim for it.
CAclubindia
