TaxTMI 
TaxTMI 
Dear all, If husband acquire house property in the name of wife and take housing laon in the name of wife. Repayment of loan is made by husband from his bank account. Question is weather husband claim deduction of interest on repayment of housing laon u/s 24 and principal repayment under sec. 80C from his income as wife is not filing income tax return as she is house wife.? pls advise.
income from house property
10 Aug 2010 
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Ownership and beneficial ownership determine entitlement to housing loan deductions; beneficial owner may be taxed and claim benefits.
Deductions for housing loan interest and principal depend on legal ownership and borrower status: ordinarily only the owner/borrower can claim them. If the husband is treated as the beneficial owner or the wife is a trustee/agent for him and income is attributed to him, he may obtain the tax benefits; otherwise literal borrower/owner requirements and litigation risk may prevent him from claiming deductions. (AI Summary)
Deductions for housing loan interest and principal depend on legal ownership and borrower status: ordinarily only the owner/borrower can claim them. If the husband is treated as the beneficial owner or the wife is a trustee/agent for him and income is attributed to him, he may obtain the tax benefits; otherwise literal borrower/owner requirements and litigation risk may prevent him from claiming deductions. (AI Summary)