i and my wife have jointly taken housing loan from lichfl. Property is registered in the name of my wife.How should i avail benefits of tax rebate on emi.
i and my wife have jointly taken housing loan from lichfl. Property is registered in the name of my wife.How should i avail benefits of tax rebate on emi.
what are the sections in which these dedcutions can be claimed.
Hi,
In order to claim deduction of the principal and interest paid on EMI, you should be the owner of the house.
Please let us know who has funded the property. Is it jointly funded or its funded only by your wife.
Please feel free to call/revert in case of any doubts
Thanks and Regards
Abhishek Dugar
CA CS B.Com
Hello,
Since the property is not in your name it is difficult to claim interest benefit.
In the ITR, you can claim it as a loss under House Property.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
Hello,
You can claim deduction u/s 24.
Regards,
Keerthiga Padmanabhan
M.Com., CA, LLB
