Please Help: House Property
Posted Date : 26-Feb-2014 , 04:02:52 pm | Posted By: Sunil Agrawal
Category :
Income Tax | Answers :
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Comments :
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i am a main borrower of housing loan & instalment is paid by ECS throuh my account. House is registered in the name of mother. I & my Mother& 2 elder brother are co applicant. who can take the benefit of Interest & principal repayment in income tax |
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Answers:
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 Answer by: AKHIL MAHESHWARI |
| Dear Sunil, benefits can be received in proportion to your share, but if you are able to prove that you are repaying the loan n interest, the benefit would be awarded to actual contributor.
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| Answer by: AKHIL MAHESHWARI |
| And that is easily traceable as payment is being done directly through your account.
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| Comments |
| Posted By : Sunil Agrawal |
03-Mar-2014, 03:18:11 |
| I have already said that i am not a owner. Only my mother is a single owner. |
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| Posted By : |
27-Feb-2014, 05:15:25 |
| income from house property is to be leived in the hands of mother because she is the owner of this house. so according my thaught the benifit is to be taken by that person, who is liable for such income. |
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| Posted By : |
27-Feb-2014, 11:35:33 |
| You are eligible for tax exemption in the ratio of ownership only hence the tax benefit of interest & principal repayment that you can be claimed in proportion of the share. |
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