28 November 2016
Dear All
I have a query regarding to claim of intt on home loan. The query is... my mother has owned a flat... nd I (Son) has taken loan from bank on this flat. ... in the loan sanctioning letter nd other letters... My mon nd my name have... so my query basically is... can i claim the benefit of interest u/s 24b and 80C for the same...!!!??
28 November 2016
co- borrower is not a co-owner of property, he cannot claim any tax exemption. The only solution to this is if your mother executes a sale deed or gift deed in your favour to include you as a co- owner in the property.
herefore, to claim the tax benefits on the property:
You must be a co-owner in the property You must be a co-borrower for the loan
CAclubindia
