income tax on property purchased
sumesh
(Querist) 01 April 2010
This query is : Resolved
dear sir , i have recently booked 2 flats of around Rs 19 lacs for which the payment / loan has yet to commence , the flats are in my name as first applicant and my wife as second. my query is that should i book one of the flat with my wife as first applicant and will it have any financial bearing at the time of disposal of the flats. We both are PAN card holders.
regards
sumesh
Raj Kumar Makkad
(Expert) 01 April 2010
You both can remain joint loanee and there shall not be any problem at the time of sale of the property because you first have to clear lien of the bank.
soumitra basu
(Expert) 02 April 2010
Since you did not state the source of income of yours and wife it will not be possible for me to give you better tax planning by purchasing flat. You should also state whether you will give one flat on rent or not.
sumesh
(Querist) 02 April 2010
i have a govt job with tax deducted at source and my wife is shifting from being a teacher to a housewife at times , the flats are basically for investment purpose and shall be rented out on possession , many thanks
sumesh
