Deduction u/s.24 (b) for deemed owner
This query is : Resolved
10 September 2012
My friend Mr. X purchased a new House property in the name of Mrs. X by paying Down payment etc from his own bank a/c. & taken a Housing Loan in joint name of himself & his spouse, & pays EMI from his own bank a/c.as well out of his earned salary income. They dont have any other HP & also Mrs. X doesn't have any source of income & is not filing ITR. Whether Mr.X is eligible to claim deduction u/s. 24(b) i.e. Loss under SOP HP? Although he is not the actual owner of the HP but can he be regarded as the deemed owner of the HP by invoking Sec.27??
12 September 2012
He will be entitle to claim deduction u/s. 24 and u/s. 80C.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Import license renewal
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
