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Related to loan and deductions
If a property purchased in the name of wife and loan taken by husband to pay the value of property and EMI paid by husband then husband will be eligible to take deduction under section 80C principal payment of loan and under house property for payment of interest on loan ??
Replies (4)
Yes Husband can claim deduction on repayment of housing loan u/s 80C and for interest deduction can be claimed u/s 24(b)
If both husband and wife have joint
If husband is a co-owner, then I think he will also be able to avail such deductions proportionately.
The husband cannot claim the deduction because he is not the joint owner.
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