Please Help: Income from house property
Posted Date : 05-Aug-2011 , 03:50:17 pm | Posted By shashi kumar dhoka
whether interest on housing loan in the joint name of husband & wife can be paid by husband and claim entire interest paymnet as deduction in his returns of income.
Category : Income Tax | Answers : 5 | Comments : 2 | Hits : 387
Answers
Answer By: CA. MANISH MALHOTRA
Husband can not claim entire interest in his return when property jointly hold except in case where wife has no source of income
Answer By: CA. MANISH MALHOTRA
But advisable not to claim entire.
Answer By: CA. Sachin Data
no dear....it cant be claimed by Husband alone
Answer By: CA. MANISH MALHOTRA
If wife is dependent on husband thn only husband can claim......
however if wife file her return of income or having any source of income thn both can claim individually.
however if wife file her return of income or having any source of income thn both can claim individually.
Answer By: PRIYANKA
It is advisable that both husband and wife should claim proportionate amount of interest as per their shares in the property in their respective returns of income.
Comments
CA VIPIN GARG
05-Aug-2011 , 04:13:36 pmNo it is not possible at all to claim entire interest amount as deduction of housing loan in any single assesse's return, when the housing loan is in joint name. Hope you got your answer but if u still has any doubt please reply, have a nice day shashi.......
CA Prabhakar
06-Aug-2011 , 04:17:14 pmYes husband can claim. Any person who is paying the installment can claim.