Tax benefit - interest payment on hl - property jointly held

Tax queries 689 views 3 replies

Hi,

I have seen in so many forum and articles mentioning that both husband and wife can claim income tax benefit in relation to Interest paid on Housing Loan (Rs.1.5 lacs each) as long as the property and the loan is in joint name. Now in my assessment, the assessing officer is not allowing this and saying that only total of Rs.1.5 lacs what we can claim together. So I am looking for documents/case laws or circular which can be quoted in an Income Tax Assessment proceedings.  Please share urgently.

Thanks

Sivakumar.K

Replies (3)

/forum/analysis-of-housing-loan-sec-80c-and-24b--136402.asp

Dear Mr.Sharma,

Thanks for sharing that info...but i am looking for quotes which can be given in assessment proceedings... I hope these discussions, cannot be quoted officially, unless we have this in the form of any decided case laws/circulars, etc... Can you share if there is any case laws, etc...

Thanks

Sivakumar.K

AO can not deny the benefit, but look into your records, viz share in reg deed, share in bank loan, actual payments and other criteria. 


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