Poging GOUD - Vrij
Can my wife add unclaimed home loan interest to acquisition cost?
Mint Hyderabad
|February 10, 2025
As per the limited facts provided, it seems that the house is in your spouse's name; however, you are co-borrower in the home loan and the loan has been fully repaid by you.
At the outset, please note that as per the clubbing provisions in the tax laws, income which arises to the spouse, from property transferred directly/indirectly to the spouse, otherwise than for adequate consideration, should be added to the total income of the transferor spouse. Hence, there is a view that if the house is jointly funded, capital gains from sale of such a house should be included in the income of the respective spouses, in the ratio of their respective funding towards the cost of acquisition.
Dit verhaal komt uit de February 10, 2025-editie van Mint Hyderabad.
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