Ask an Expert
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Date : Oct 4, 2008 Question DEAR SIR I HAVE A FLAT IN INDIRAPURAM WITH MY NAME ( OWN BY ME 100% & HAVE COMPLETELY PAID BY ME ) AND I HAVE BOOKED ANOTHER FLAT IN VAISHALI GZD IN MY WIFE NAME THE TOTAL COST OF THE FLAT IS 27.4 LAC RS WHERE 7.4 LAC WAS PAID BY MY WIFES BUSINESS ACCOUNT ( SHE OWNS A EXPORT BUSINESS IN HER NAME ) & BALANCE 20 LAC IS HOME LOAN FROM ICICI BANK THIS LOAN IS IN JOINT NAME OF ME & MY WIFE, ALSO THE EMI IS PAID FROM OUR JOINT SAVING BANK ACCOUNT WHERE SHE ALSO CONTRIBUTE EQUALLY FOR THE EMI SO MY QUESTION IS WHETHER WE BOTH CAN CLAIM INCOME TAX BENIFITS ?? IF YES THEN HOW ?? IF YOU WANT US TO CHANGE THE NAME ON THE BOOKING FROM THE BUILDER THEN ALSO WE CAN DO PLEASE ADVISE ALSO WHAT BEST CAN BE DONE IN THIS CASE TO GET MAXIMUM INCOME TAX BENIFIT Answer You can get exemption for the home loan in the
ratio of your respective shares in the loan.Tax deduction benefits will be
available under section 24 (interest paid on the loan) and under section 80 C
(for the principal repaid). |
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| 15673 | my wife and me jointly have a home loan. can we both avail the tax benefit of 1.5 lakhs on interest and 1 lakh | ||
| 15636 | Hi, I have bought a property in pune which is coming under grampanchayat, its a 1bhk flat please give me infor | ||
| 15615 | On the present market condition, it is good to go for Fixed or Floating int. for Home loan | ||
| 15597 | is i am eligible for home loan to buy a house from my father | ||
| 15593 | My name is suresh kumar I am working in Railway department and retiring after 4.8years can I get the home loa | ||
| 15391 | wow much loan should i take? age 30 sex: male married one child( 1 year) monthly income 31000 house hold | ||
| 15304 | Can I get Home loan for 100% principal amount | ||
| 15276 | i am in cental govt service. let me know the how much amount is eligible for me. my gross payment around Rs 23 | ||
| 15058 | hi i am nelson, i want home loan but my total work experience about 6 months could i get the loan from banks a | ||
| 15052 | I have the monthly take home of Rs 55K, how much i'm eligible to go for a new home? and which mode is better f | ||
| 15042 | I have taken a home loan for 25 Lakhs. I would like to do the partial prepayments.If I pay 2 Lakhs, how much i | ||
| 15041 | pl guide about home loan transfer from one bank to other | ||
| 15039 | REQUIRE HOME LOAN WHAT ARE THE NECESSARY THING TO REQUIRE THAT A PERSON CAN GET EASILY LOAN. THE PERESON SHOUL | ||
| 15008 | In case of Floating rate, there is some discount given on PLR(Prime Lending Rate). Does that discount remain s | ||
| 15005 | Floating Interest Rtae of HDFC Home Loans | ||
| 15002 | I am looking at buying a flat for 30 lakhs,i would avail a joint oan with my husband.our total take home is 55 | ||
| 14998 | i want to know which bank is best for taking home loan . is floting rate may down ?in 2004 i taking from icici | ||
| 14997 | what is the prosiger of home lone | ||
| 14996 | I am having Housing loan of ICICI Bank. Current Outstanding Amount is Rs. 87000/- Approx @ RoI 12.75% floating | ||
| 14994 | i took a loan from DHFL at 12.75 floting for 15 years EMI of 2285? i think its very high rates there is any lo | ||
| 14993 | Can I include my father who is a retired Govt Employee as a co applicant for home loan to increase loan amou | ||
| 14992 | Is this right time to take home loan | ||
| 14991 | I am Software engineer and want a personal loan of about 2lacks for purchasing of a land site. please suggest | ||
| 14988 | if i want to repay a loan then what is the policy? | ||
| 14987 | is it better to take a loanof rs 14 lac for 240 months or 120 months?i am pllanning to take a hom loan @8%fro | ||
| 14979 | I have a loan which was taken in August of 2004 @ a floating rate of 7%. today with the rise in roi the term h | ||
| 14978 | kindly let me know which bank is offering floating interest rate of 9.75-10.50 | ||
| 14977 | I was issued home loan from bhw home finance in the month april,08 with floating rate of interest 10.50%.Now t | ||
| 14971 | sir, how could i apply home loan ?please help me | ||
| 14970 | how can i renovate my family house by loan, my father have no income and also i have 2 minor siblings, my sala | ||
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