{"id":19660,"date":"2021-06-26T16:09:14","date_gmt":"2021-06-26T10:39:14","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=19660"},"modified":"2021-06-27T11:19:00","modified_gmt":"2021-06-27T05:49:00","slug":"exemption-deduction-w-r-t-house-building-loan","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/exemption-deduction-w-r-t-house-building-loan\/","title":{"rendered":"Whether deduction  of interest paid on house building loan  can be claimed   as deduction u\/s 24 of the Act ?"},"content":{"rendered":"<p>A piece of residential\u00a0 plot is in Wife&#8217;s name , <span style=\"text-decoration: underline\"><strong>who has no source of income <\/strong><\/span>since she is a Home maker. So wife is the owner of the plot.<\/p>\n<p>House Building Loan taken by Husband, who is a salaried person,\u00a0 with wife&#8217;s residential plot\u00a0 as a collateral\u00a0 security and constructed house on the wife&#8217;s residential plot.\u00a0 Monthly House Building Loan EMI ( Principal and Interest) amount paying by the Husband out of his salary amount.<\/p>\n<p>The lender Banker has granted House Building Loan in the name of Wife and Husband (jointly ).<\/p>\n<p>The query is:<\/p>\n<p>Can the husband claim receipt of House Rent Allowance received from the employer as exempt though he is not paying any rent since he is residing in the constructed house ?\u00a0 Or;<\/p>\n<p>Can he claim 100 \/ 50% Interest and Principal\u00a0 on Loan taken for the construction of house, though the residential plot\u00a0 is not in his name , out of his salaried taxable income ?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[139],"qa_category":[23],"qa_tag":[256,228],"class_list":["post-19660","qa","type-qa","status-publish","hentry","qa_expert-research-team","qa_category-income-tax","qa_tag-deduction-of-interest","qa_tag-income-from-house-property"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/19660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=19660"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=19660"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=19660"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=19660"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=19660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}