Purchase property commercial

This discussion explores the implications of jointly purchasing a commercial shop for a business using a loan. It covers whether one spouse can pay the entire EMI, how to value the asset on the books (actual cost vs. split), and the eligibility for interest deductions. The advice clarifies that the full EMI can be paid by one spouse, and the total interest is deductible against business income. The asset should be recorded at its actual cost, and while joint ownership offers safety, only the spouse making the EMI payments can claim the deduction.