please help friends urgent request

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pradeep (Querist)
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16 March 2011 Kindly advice us regarding the point given under IT,Act.

1.Purchase of property registered in the name of wife who is is unemployed.

2.Home Loan taken in joint name,since wife is a house wife and husband is employed

3.Whether husband can claim the interest portion of loan as deduction from income U/S 24(b)

ramprasad

ramprasad (Expert)
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17 March 2011 In my view wife is the owner of the property. For claiming deduction of interest the person should be owner or deemed owner of the property.

taxindiaconnect

taxindiaconnect (Expert)
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25 April 2011 yes, the husband can claim the deduction of interest if he is making the payment of loan from his inocme and he has poroof of that payment.

Vidya Jain

Vidya Jain (Expert)
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13 May 2011 I agree with Mr.Ramprasad. Since husband is neither owner nor deemed owner he would not be allowed deduction U/S 24(b).

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