if the HBL is taken jointly in the name of husband and spouse, then how can the deduction u/s 24b i.r.o interest on borrowed capital be claimed, provided that both of them file the ITR and the both are the co owners of the house
SHUVRO ( (WANT TO LEARN) ) (175 Points)
13 May 2010if the HBL is taken jointly in the name of husband and spouse, then how can the deduction u/s 24b i.r.o interest on borrowed capital be claimed, provided that both of them file the ITR and the both are the co owners of the house
CA. RUPESH JOSHI
(Chartered Accountant)
(174 Points)
Replied 13 May 2010
In my view both husband and wife can claim the interest amount in their co-ownership ratio.
The certificate from the bank specifying the amount of interest payable by the assessee should be in both name i.e. H & W jointly.
Copy of flat purchase agreement alongwith above mentioned certificate should be filed before the AO to justify the claim.
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
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