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Related to loan and deductions

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44 Points Posted on 15 April 2021
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 ??
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On 15 April 2021 at 15:20 Report
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Chartered Accountant
24588 Points Posted on 15 April 2021
Yes Husband can claim deduction on repayment of housing loan u/s 80C and for interest deduction can be claimed u/s 24(b)
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On 15 April 2021 at 17:00
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44 Points Posted on 22 April 2021
If both husband and wife have joint
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On 22 April 2021 at 22:46
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CMA
13117 Points Posted on 23 April 2021

If husband is a co-owner, then I think he will also be able to avail such deductions proportionately.

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On 23 April 2021 at 17:22
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Chartered Accountant
5010 Points Posted on 24 April 2021

The husband cannot claim the deduction because he is not the joint owner. 

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On 24 April 2021 at 10:27


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