08 June 2016
Dear Sir One of my Employee has produced Home loan exemption certificate from Bank(Principal and Interest) but the account holder is her Husband. It is not joint account can I give the exemption to her in this case?
08 June 2016
pls check the house owner and loan repayment by whom. both will be same then you can give the exemption/deduction of housing loan otherwise not possible,
08 June 2016
For claiming home loan benefits of principal and interest the wife must be the co-owner and co-borrower. From your facts it seems that husband is owner and loan is also in the name of husband than wife cannot claim benefits of repayment since she is neither co-owner nor co-borrower.
CAclubindia
