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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 b .....

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..... e submitting to the HDFC from which I have got this loan. I have following doubts over this (1) Would there be any Income tax related issues raised against me if my wife pays the prepayment in such w .....

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..... ay (2) Can I claim tax benefit of such principal prepayment under 80C ? (3) Would the bank accept such cheque which is not coming from my account? (I will be checking this with the bank as well) .....

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..... Thanks - Reply By MARIAPPAN GOVINDARAJAN - The Reply = 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 mone .....

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..... y 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. - Reply By Ganeshan Kalyani - The Reply = The principal rep .....

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..... ayment benefit should be eligible under income from house property head as negative income. - Homeloan Prepayment - Query Started By: - r k Dated:- 31-12-2015 Income Tax - Got 2 Replies - Income Tax .....

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..... - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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