An employee purchase a house in the name of his wife. They both take a joint loan in a bank. The wife is not earning any income. The husband alone earns and he will repay the loan amount. Can he be eligible for any IT benefit
praveen (CA Final) (40 Points)
20 January 2011An employee purchase a house in the name of his wife. They both take a joint loan in a bank. The wife is not earning any income. The husband alone earns and he will repay the loan amount. Can he be eligible for any IT benefit
Pradip Narsingani
(Income Tax & GST Consultant/ CA-Final)
(572 Points)
Replied 20 January 2011
hey he should get benefit for loan in house property.. but not full amount only his part of house in your case i.e. 50%
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