samyuktha (service) (42 Points)
11 May 2009
Me and my father taken Home loan from SBH bank. The property is in my father's name and the loan account is shared between me and my father. I am paying home loan, can you please tell me whether i am entitled for Tax benefit or not.?
saleemoddin
(php developer)
(66 Points)
Replied 11 May 2009
Hi Samyuktha,
if the SBH loan is taken in the joint names and both are paying their respective share of EMI then it is possible to claim deduction respectively.
you can calculate your income tax at www.payit.in developed by www.mimir.in
Mayank kharbanda
(Risk Advisory Services)
(409 Points)
Replied 11 May 2009
if the property is in ur father's name.......den ur father can only claim deduction.........
CA Lovenish Bansal
(JOB)
(343 Points)
Replied 12 May 2009
Deduction can be claimed by only that person who is the owner of the house not by any other person even he is paying instalment
Thanks,
Lovenish Bansal
CAclubindia
