04 July 2012
I have taken H.P. and i m sole owner i.e in sale deed only my name is there and i have also taken housing loan form bank in the name of my wife and i m also the co-applicant in loan and repayment of loan is made from my S/B A/c. Issue is who is eligible to take loss under H.P.(interest)and deduction u/s 80C(principal repaid)?? myself or my wife?? both are filing return!!! plz quote judgement if any....
04 July 2012
as per my view as house is in only your name and you are co-applicant in home loan, So only you can claim both loss on house (interest) and 80 C for principal amount.
CAclubindia
