Deduction for Housing Loan

This query is : Resolved

nitin gulati (Querist)
Follow

06 April 2009 Huaband & Wife has taken home loan to acquire Self Residential House in Joint name.
But the registry of House is done in the name of wife only to save the stamp duty
Full Loan instalment is paid by husband.

1.Whether husband can claim for Tax Benefit under ITax u/s 80C.& Sec 24.
If no why?

chetan soni

chetan soni (Expert)
Follow

06 April 2009 for claiming the interest & principal repayment one has to be legal owner of the property. And in your case property is registered in the name of wife then only wife can claim interest & repayment of housing loan in her income tax return.

want to be claim by both then you need to talk to advocate to get the property registered in the name of both husband & wife.

nitin gulati

nitin gulati (Querist)
Follow

07 April 2009 Chetan Ji
Thanks for your prompt reply

Upgrade to CAclubindia Pro. Subscribe Now!