3 replies on this article “When there is no outstanding loan on 1st house ?”

1. ashalanshu says:

   February 28, 2014 at 12:22 am

   Dear Seeni, as the property is to be purchased for self residence, you are arranging money for down payment as well as loan is also given based upon your repayment capacity, so to avail tax benefit, you should register the property in your own name. How? the interest paid by you upto 150000 Rs. ‘ll be available to set of from your salary income directly.

   Thanks

   Ashal

   Reply
2. ashalanshu says:

   February 24, 2014 at 3:28 am

   Dear Seeni, as the Pune house ‘ll be self occupied, the interest benefit ‘ll be zero to you for the fact that you are not the owner of the house. What benefit you are trying to get by purchasing all the property in wife’s name? Any serious reason other than Tax evasion?

   Thanks

   Ashal

   Reply
   1. seeni_pv says:

      February 27, 2014 at 11:48 pm

      Dear Mr.Ashal,

      Other than its tradition in our family there is no serious reason behind buying property on wife’s name. I’m just interested to know if there is any tax benefit involved. Like many others I also to want reduce the tax as much as possible. Certainly don’t want to evade

      Regards,
      Poovannan

      Reply

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