HOME LOAN

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2010 Dear Experts
Home loan applicant is my mother i am the co-applicant but loan paid by me through the my bank and i am claiming the deductions my IT return like home loan principal and interest its correct or wrong kindly explain

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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19 July 2010 As you said that the home loan applicant is your mother, so it is understood that the property also stands in the name of your mother.

I this case , you will not be entitle to claim the home loan benefit under income tax act.

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2010 Property owned my mother but building constructed by me so i m claim the deductions

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CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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19 July 2010 Property has to be in your name for claiming deduction.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2010 ok thank u boss