10 September 2012
My friend Mr. X purchased a new House property in the name of Mrs. X by paying Down payment etc from his own bank a/c. & taken a Housing Loan in joint name of himself & his spouse, & pays EMI from his own bank a/c.as well out of his earned salary income. They dont have any other HP & also Mrs. X doesn't have any source of income & is not filing ITR. Whether Mr.X is eligible to claim deduction u/s. 24(b) i.e. Loss under SOP HP? Although he is not the actual owner of the HP but can he be regarded as the deemed owner of the HP by invoking Sec.27??
CAclubindia
