Benefit of building loan interest & installment payment

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..... Benefit of building loan interest & installment payment
Query (Issue) Started By: - S.C. WADHWA Dated:- 7-4-2016 Last Reply Date:- 7-4-2016 Income Tax
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Income Tax
Dear Expert, .....

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..... One employee has purchased a house jointly with his wife after getting loan from bank. both are paying 50% of bank interest and 50% loan repayment installment. Husband has taken his wife portion of h .....

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..... ouse on rent because he getting HRA from his company. Income of both are taxable. Now my query is that whether his wife will get benefit of building loan interest and loan repayment installment in her .....

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..... return of income. She will also include rental income after 30% abatement in her income. Please give your expert reply. Regards, WADHWA Reply By Ganeshan Kalyani: The Reply: Sir, both husband an .....

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..... d wife will be able to claim the loan payment equally provided they both submit a declaration letter to their respective employer. Further I did not understand how wife will let out the property to he .....

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..... r husband. Moreover if the house is self occupied then in my view it cannot to considered as let out property. Thanks.
Discussion Forum - Knowledge Sharing .....

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