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Q. > Please Help: IT- exmption us 24(b)
I have taken house on my spouse name (I am not co-owner in property) and she is not working. Repayment of loan is made by me. In that case can i avail tax benefit in my name? If yes please refer the section in which it is mention, if any case law exists suggest me.
If not then suggest me section in which it is written, if any case law please suggest.
(my view: refer section 27 & 64(1) state about transfer of property without constant of separation. In my case I buy a new property in my wife name. due to that I think I am not a deemed owner and not enough tax benefit.)
Please suggest & oblige.
1 Answers
answered Sep 01, 2012 by CA Satuti Mahajan , batala
Ur wife can avail the tax benefit for repayment of loan.
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Comments
CA. Ajay Agrawal
06-Sep-2012 , 02:51:19 pmno u can not avail the tax benefits. the tax benefits are available to those in whose name the property is registered.