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Homeloan Prepayment, Income Tax |
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Homeloan Prepayment |
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My wife will be giving me some money (Rs. 5 lacs) for prepayment of the home loan which is on my name (she is NOT a co-borrower). She will be directly giving the cheque from her account which I will be submitting to the HDFC from which I have got this loan. I have following doubts over this Thanks Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
The bank will accept the cheque of your wife against your loan provided your wife is to give a letter to the bank that she has given the money to her husband and also a copy of her bank statement. You can also claim tax benefit of such principal amount subject to the limitation.
The principal repayment benefit should be eligible under income from house property head as negative income.
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