TMI BlogBenefit of building loan interest & installment paymentX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Expert, 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. Husban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d has taken his wife portion of house on rent because he getting HRA from his company. Income of both are taxable. Now my query is that whet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her his wife will get benefit of building loan interest and loan repayment installment in her return of income. She will also include rental income after 30% abatement in her i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome. Please give your expert reply. Regards, WADHWA - Reply By Ganeshan Kalyani - The Reply = Sir, both husband and wife will be able to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 her husband. Moreover if ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the house is self occupied then in my view it cannot to considered as let out property. Thanks. - Benefit of building loan interest & installment payment - Query Started By: - S.C. WADHWA Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7-4-2016 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ementindia.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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