Dear Team, I have recently booked a flat on my wife's name. I have few questions with regard to income tax exemptions.
First, will I get the exemption on interest paid to bank against home loan keeping in mind the property is in my wife's name.
Second, my package is 12,64,000.. if I make the propert as joint then new tax rule is beneficial for me or the old one?? As per my knowledge , new tax rule dies not allow any exemption. So should I make the property as joint thereby saving the money of 1% registeration.
Third, will this tax rule be the same every year going forward. I wanted to get the benefit of interest paid to bank against the income tax.
Please help.
Thanks
Sailesh Mutreja
CAclubindia
