20 June 2011
Mr. X has purchased a house in joint name with his wife. Loan is also taken in joint name. However, Loan instalment is paid from Mr.X account. Whether Mrs. X can claim Benefit of Interest of Rs. 150000?
And if No, Whether we can pass accounting entries for Share of Mrs. X for loan instalment and then can claim Benefit of Interest of Rs. 150000?
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