Deduction u/s 24
This query is : Resolved
12 August 2015
Does the condition for availing deduction u/s 24 of IT Act requires the fulfillment of following:
1) The property should be in the name of Assessee. Can Assessee claim deduction for interest paid on the property registered in his/her spouse name.
2) The Assessee is the Co-applicant in the the home loan taken from Bank.
1) The property should be in the name of Assessee. Can Assessee claim deduction for interest paid on the property registered in his/her spouse name.
2) The Assessee is the Co-applicant in the the home loan taken from Bank.
13 August 2015
He should be co-owner and co-applicant.
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