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income tax rebate on acquiring a house property
A person purchases a flat in the name of his wife from his own earnings, can he claim exemption of income tax for the premium and interest amount on the loan taken by him on his name for purchase of the said flat.
Replies (3)
loan should be taken as joint holder by both of them . . .
Flat should be registered in Joint name with her name first.
Loan also - the person should be co-borrower.
Where under I.T. Act it is mentioned that a person paying from his earnings for purchasing a flat in the name of his wife cannot avail tax exemption
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