House property
This query is : Resolved
18 September 2015
Husband and wife want to be co-owners of a house property. They both want to apply loan. Wife's loan application gets rejected. Can husband take the whole loan on his name, from that amount give a part to wife as loan and both claim interest under 24(b)? Here the question is that husband takes the loan for purchase/construction of property but is using the amount to give loan to wife. Would there be any tax implications?
18 September 2015
They should apply for joint loan. Then they will be eligible for enjoying tax benefits u/s 24(b) and 80C.
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