Housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 December 2012
Husband & wife purchased a house taking hosing loan from a bank. The property is in name of wife. both r working.
Both have take the loan 50 % each. Can each one can take benefit of housing loan for income tax ? if not who can take that benefit ?
Both have take the loan 50 % each. Can each one can take benefit of housing loan for income tax ? if not who can take that benefit ?
21 December 2012
If the loan is on behalf of both the name then each one can take the benefit of housing long subject to their contribution to loan percentage in your case it 50% each can claim.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2012
If loan is taken now & possesion of house will be taken in next year what benefit can be taken in Incometax this year.
22 December 2012
In such a situation interest can not be claimed before construction is completed.
It can be claimed as 1/5th in every year from the year of completion.
.
Repayment of loan amount can be claimed U/s 80C.
.
It can be claimed as 1/5th in every year from the year of completion.
.
Repayment of loan amount can be claimed U/s 80C.
.
22 December 2012
The one in whose name the property is registered can take the benefit.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- 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
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
