04 August 2013
Hi sir/mam, my friend is just the co-applicant of the housing loan. Father alone owns house. Father is the retired person who is not even filing the return. Now my friend being co-applicant repaid loan and interest. Can my friend get deduction u/s 80c for repayment and u/s 24 for interest on housing loan. Please guide as soon as possible. Need to file the return. Details pertain to FY 2012-13.
04 August 2013
No. Only owner of the house property is eligible for claim the deductions under 80C and 24b. since rights of the property is not there with him, there is no question of house property income or loss for him
Querist :
Anonymous
Querist :
Anonymous
(Querist)
04 August 2013
ok thank you sir, However in signed form 16 employer has deducted tax(TDS) after considering those deductions.
Then do we need to pay tax and then file the return.