Dinesh Jain (C.A.) (92 Points)
25 March 2010Dear All,
Some of our staff memebers are submitting the interest/loan repayment certificate in joint name of wife. We are unable to assess weather payment were made by the staff or other co-owner. we don't have the ratio of owenership nor bank statement of the staff. please give the best solution.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 25 March 2010
Dear in this case just ask the employee who had made the payment of housing loan and is co owner taking any deduction for housing loan in his/her ITR. If co owner is not claiming any deduction then full interest can be allowed to one owner.
Richa
(B.Com, CA Final Stdnt)
(113 Points)
Replied 25 March 2010
yes m agree with Shudhanshu.bt it should be noted that wives should not filed their personal returns.
CAclubindia
