by Arup Chanda
(Barasat , kolkata -700126 ,State : west Bengal, india)


I have taken a housing loan of Rs. 4 lac on 01.11.2010 for extension of second floor of residential house from schedule bank in the joint name Arup Chanda (as a first name) and Anita Chanda (as a second name )who my mother and she is a house wife aged 58+ and fully dependent to me.

My mother is the only owner of house property.I am paying the entire EMI for housing loan from saving account in the name both.

My question is : Should I eligible for exemption of income tax on interest of housing loan paid for the FY 2012-13 relevant to AY 2013-14.

Please also be guided how can I claim for refund of income in respect of interest on housing loan paid for past years.

Please note that my mother did not submit IT return for last couple years.

Thanking you,

Arup Chanda


No. You are not eligible for interest deduction as the property is not in your name.

However, if the property is settled, or given on lease for more than 12 years, in your name, then there is a possibility of claiming the deduction under section 24 is available.

Thanks for Contacting Accounting-n-Taxation.Com

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Questions on Tax.



submit to reddit

Protected by Copyscape Duplicate Content Detection Tool

Free Newsletter

Our Monthly newsletter ‘Online Tax Consultant’ is the ideal way to make sure you miss nothing in the world of Taxation in India.




Income Tax Questions
Have Questions on Tax?

Salary Income Tax
Salary Taxation

House Property Tax
House Property

Capital Gains Income Tax
Capital Gains

Business Income Tax
Business Tax

Corporate Tax
Corporate Tax

Other Sources Income Tax
Other Sources