Deduction of interest under ihp head
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2013
Flat is in the name of wife and instalment is being paid by husband
Pls tell me who will claim the interest under the head of IHP under Income Tax Act.
Pls let me know the case law also ............
Pls tell me who will claim the interest under the head of IHP under Income Tax Act.
Pls let me know the case law also ............
15 March 2013
Since the interest is deducted for the annual value taxable in the hands of owner of the house property, whatever deduction is to be given in case of property you are referring, shall be to your wife only.
The simple reason is that she is owner of the property and income from house property is chargeable only in her hand.
This is true even if the EMI is paid by you.
In my opinion, you are not eligible for claiming the interest.
I am leaving this query open for other experts to reply.
.
The simple reason is that she is owner of the property and income from house property is chargeable only in her hand.
This is true even if the EMI is paid by you.
In my opinion, you are not eligible for claiming the interest.
I am leaving this query open for other experts to reply.
.
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