Amit (Accountant) (261 Points)
29 November 2014I am going to take a housing loan for Rs. 8 lakhs for a residence.
The property will be in my name only. However, the bank insists on making my wife a co-applicant.
If the property is registered fully in my name with the housing loan from bank with my wife as co-applicant, will I be able to claim full deduction of the interest myself though my wife is coapplicant?
Rohit Gupta
(Audit Executive)
(271 Points)
Replied 29 November 2014
Dear Amit,
Yes you can claim the full deduction of interest provided the installment amount is paid from your income chargeable to Tax.
Regards
Rohit Gupta
RHT1203 @ GMAIL.COM
CAclubindia
