Repayment of House Loan
This query is : Open
06 January 2010
Respected Seniors,
If a couple has taken house loan on combined salaries then how will they get the deduction from the Income, means is there any ratio of deduction or one can get the deduction and other one can't.
Please advise.
Regards
Respected Seniors,
If a couple has taken house loan on combined salaries then how will they get the deduction from the Income, means is there any ratio of deduction or one can get the deduction and other one can't.
Please advise.
Regards
06 January 2010
Section 26 will help you here.
According to sec 26 "First compute IFHP as only one owner is there, and after computation distribute IFHP in the hands of all owners according to their Share in House Property".
There is no separate deduction available, even if loan has been taken by more then one person for the House Property.
Regards!!!
Dinesh S. Adhikari
According to sec 26 "First compute IFHP as only one owner is there, and after computation distribute IFHP in the hands of all owners according to their Share in House Property".
There is no separate deduction available, even if loan has been taken by more then one person for the House Property.
Regards!!!
Dinesh S. Adhikari
06 January 2010
Sir,
I can't understand yet. Please explain as I am not a subject knowing person.
Regards
I can't understand yet. Please explain as I am not a subject knowing person.
Regards
06 January 2010
It will be allowed to the person who is paying thge EMI for the loan.
08 January 2010
If both the borrowers are paying then? say, the house loan has taken by husband & wife on their salaries then how much deduction they will get from the income.
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
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Gst Sales of FY 2023-24
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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 Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
