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TMI BlogHouse Property taken in joint namesX X X X Extracts X X X X X X X X Extracts X X X X ..... I want to know if a house property is in joint name of retired father and son. All the EMI of Land Cost and building Cost, Registry Cost, all correspondence takes place with the son which can be cross-checked by interest-principal certificate in which only son name is written. Also, the client has paid full balance land loan by his saving account and the building loan EMI he is paying from starti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng. So, can son taken full interest deduction and full principal deduction in his income tax return. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Dear Sir, Whether the father contributed any amount for the said property? If not the son can utilize full principal and interest. M. Govindarajan - Reply By VIVEK AHUJA - The Reply = Father has not contributed anything. But, how to justify th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e above point at income tax department. Like any case law is there to be quoted. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Dear Sir, You can show all the payment made by you for the house property by your own sources and the name of the father is added in the title deed only on love and affection. Regards, M. Govindarajan - Reply By VIVEK AHUJA - The Reply = Ok Thnx. Sir - House Proper ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty taken in joint names - Query Started By: - VIVEK AHUJA Dated:- 12-12-2014 Income Tax - Got 4 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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