Let your wife transfer her share of EMI every month to your joint account in ICICI Bank. The interest certificate given by the ICICI bank can be used as a declaration for claiming her share of interest and repayment of principal amount along with the details of transfer of her share of EMIs to the joint account every month. This should be sufficient.
Housing loan
sir we got new flat two years back. emi costing 50,000/- per month on our joint name my self and my wife. she is working in BMC i am in railways. installment is debited from my salary ac in ICICI bank which is joint ac with my wife but her salary ac is in bank of maharashtra. i am claiming 50% and wife is claiming 50% of total housing loan. for this i am giving declaration to our institutes but this year BMC demands 50%letter from bank and bank is logically not ready give this type of letter. whether is it valid to claim like this because amount is too and second is if i can avail this whats the safe way to do this.
Asked 8 years ago in Income Tax
BMC is allowed payments through national banks and date of her salary is different so merging her salary ac with my salary ac is not feasible.both ac r joint ac now pl advise.
Asked 8 years ago
when i will get answer?
Asked 8 years ago
Dear Sir,
Your wife should transfer her share of emi in joint account and then income certificate given by ICICI Bank is sufficient for income tax purposes. However, your employer may have some different requirements.
Please feel free to revert in case of any doubts
Thanks and Regards
Abhishek Dugar
CA CS B.Com
1. Yes sir Bank can give a certificate on request. What ever you are claiming is correct as per law , you are following correct procedure of claiming 50% in your file and 50% in her file as the Property and loan is in joint names.
2. BMC can be submitted the copy of registration of flat wherein both the name are reflected ensuing that both are the owners and eligible for half share.
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