Claim of Deduction u/s 80c and 24

[Guest]

A new house purchased in the name of wife who is also employed, whereas housing loan is taken in the name of husband. Whether deductions u/s 80C and 24 can be claimed by wife or husband or it can be shared between both ?

[Surender Gupta]

The husband is not entitled to avail benefit of deduction u/s 80C / 24 where the property is purchased in the name of his wife.

AI Summary

Deduction under section 80C and 24: where property is in wife's name, husband cannot claim the deduction. Where a house is purchased in the name of the wife and the housing loan is taken in the name of the husband, the husband is not entitled to claim deductions under 80C and 24; the ownership in the wife's name is determinative of entitlement.