Easy Office
LCI Learning

capital borrowed for home acquisition

This query is : Resolved 

10 July 2010 Mr X want to take loan home loan but he want to register the home on his wife name in which their is no name of Mr X.
Repayment of loan is made by Mr X and bank is also ready to give him loan as mr X as main applicant and his wife as Co applicant.
Will Mr X will get dedcution of interest on capital borrowed even if house property is in name of his wife and not on his own?

12 July 2010 Since the house is not registered in your name you are not eligible for deduction under section 24 & 80C of the Income Tax act.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query