29 July 2011
LOan is on joint name husband & Wife, but EMI is paid by Husband. So deduction can be taken 50-50 or the Husband will take the benifit of deduction. Loan is taken before 5 year from that time husband is taking benifit. but now they want to change in to 50-50. so they can they change & take the benefit 50-50. even EMI paid by husbands A/c.
29 July 2011
If the Husband is paying EMI from his personal account then only Husband can claim. if both are paying their respective part or the EMI is being paid via Joint account then both can claim proportionately.
Dear Experts plz correct me if i am wrong. Thanks.
If both are desiring to claim deductions- Unse Kah Do Ki-
Payment should be made by both. In the eyes of Income Tax both are separate assessees and both have to fulfill the requirement of the act. Internally husband may extend a loan to his dear wife by cheque.
30 July 2011
It depends on the ownership. If the house is in the name of the husband then only the husband. If the house is jointly owned then on what basis the loan has been sanctioned by the bank is to be looked into. What is the income of the wife. Just because only name of the wife is included without any investment then no deduction can be claimed in the hands of the wife. Moreover the husband is paying the EMI. All these are to be considered before any deduction is taken in the hands of the wife
Querist :
Anonymous
Querist :
Anonymous
(Querist)
30 July 2013
IF RENT RECD FROM JOINT PROPERTY THEN INCOME CAN BE CONSIDERED IN WIFE A/C
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