01 February 2012
Case:Husband & wife co-owner of house property agaist which, husband is making a payment of EMI from his bank account. For which he is claiming Interst of rs.150,000/- and Principal of Rs.100,000/- for tax benefits. where as his wife is paying Principal of Rs.80,000/- over and above the EMI paid by husband, as adhoc pre-payment against principal of loan outstanding.
Question : Can wife be eligibal to claim tax benefit for pre-payment of principal of loan outstanding.
CAclubindia
