Tax Benefit if House in name of Mother

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  1. Anil Ingle

    Anil Ingle New Member

    I have purchased flat in the name of my wife and myself, however housing loan availed in the name of my wife,son and myself. I have got possession of the said flat in the month of Aug.2015. I want to know whether my son can claim rebate on housing loan interest and principal to save the income tax liability. My son is contributing in repayment of EMI.
  2. Yatin Gandhi

    Yatin Gandhi Active Member

    As your son is not the owner of the property - therefore he cannot claim the tax deduction for repayment of home loan
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