query regarding benefits on home loan

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  1. nikita joshi

    nikita joshi New Member

    hello sir. i want to ask if a husband takes house property (residential flat) in the name of wife and payment of loan is done by husband then whether he is eligible for deductions under sec 80C, 80EE ,SEC 24.
    Tell mei if he is eligible for other tax deductions also. Please advice . Thanks.

    Yours sincerely
    Nikita joshi
    Last edited: Jul 19, 2016
  2. ZED

    ZED Well-Known Member

    No, not as per the normal provisions.
    The husband should make a declaration to the AO , under the Benami Transactions (Prohibition) Act that this property belongs to him and he is the real owner and the money was also paid by him.

    In case of CIT V Hasina Begum (1986) 158 ITR 215 (Cal) it was held that if the funds were provided by repayable loan, then it (Income under the head "Income from house property") shall be taxable in the hands of borrower.

    In the declaration, do give reference of the above judgement and only after submission of the declaration claim the deductions under the various provisions AND NOT OTHERWISE.
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