POSTED BY March 13, 2013 4:54 pm COMMENTS (4)ON
The property is owned by my mother, my borther had applied for loan for consturction and loan was alloted by LICHFL. The loan was provided jointly in name of my mother and brother though my brother is paying the whole loan. My brother had claimed income tax benefit for 5yrs and it was granted, now it is been rejected stating that my brother is not the co-owner of the property and he cannot claim income tax benefit. My mother is ready to gift the property to my brother and am ready to give the NOC. Having such scenario can my brother claim the incometax benefit with Gift Deed in his name. If not is there any way out. Request your reviews on the same. Thanks all in advance.