Question ID : 1406

Eligibility for Deduction U/s 24 (b) for the housing loan interest

Facts of the Case :

-A husband has purchased a property the name of her wife just to save the stamp duty cost.

-The Property was fanced by ICICI bank jot names i.e the name of wife and husband.

- The down payment as well as all the EMI are beg paid by the husband from his SB A,c.

- Wife is also workg, but has not taken any benefit her I.T.urn for the terst so paid u,s 24(b) of the IT Act or the tax rebate for the prcipal u,s 88 of the Act.

The Query is :

Whether the husband is eligible to cim his come Tax urn , the ter so paid u,s 24 up to a Max. of Rs. 1.5 cs as well as the tax rebate for the Prcipal so paid up to a max. of Rs. 20000,- u,s 88 of the Act.

If so, is there any case w support of it.
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