Home Loan
This query is : Open
22 September 2017
A Home Loan was taken by Father and son as both joint applicat.
The Flat is in the name of father
EMI is paid form father account where the son transfers money from his salary earn and father have savings
Does deduction of section 24 of act will be applied to both or just for the father
Principal repayment deduction can b claim by both or just by father
Can the son claim Hra or no
22 September 2017
ce the house is in the name of father, only he can claim income/loss/deduction....
22 September 2017
Agree.
To claim tax benefits from home loan, assessee should be a owner / part owner of the house. The fact that he pays the interest from his funds is not enough
To claim tax benefits from home loan, assessee should be a owner / part owner of the house. The fact that he pays the interest from his funds is not enough
22 September 2017
Yes. I agreed with Both Experts....
The house is only father's name. So, the benefit avail only to fathers hand....
In case the house is both name then only both can take the benefit as per share....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
Trending Online Classes
CAclubindia
