property registration
rdburmanmusic
(Querist) 26 March 2014
This query is : Resolved
Dear sir/madam i am govt servant and private practitioner . I am eligible for loan facility and i want to buy house. . So i want to make loan in my name and get property registered in my mothers name. I vl complete the loan from my salary . Please guide me in detail if such provision is there. Whom to approach for this. Sub register and advocate. Pls guide. Thank u all.
Devajyoti Barman
(Expert) 26 March 2014
YOU HAVE TO JOIN AS CO-APPLICANT. IF LOAN IS GRANTED IN YOUR NAME , YOU HAVE TO BE ITS OWNER/CO-OWNER.
First approach a bank.
ajay sethi
(Expert) 26 March 2014
since loan is being granted in your name better purchase property in your name only . other wise you wont get benefit of income tax exemption .
rdburmanmusic
(Querist) 27 March 2014
Thank u burman an sethi sir.if I ha hav made loan in my name I vl get tax benefit. But making property under my registration I vl be noticed by incometax people. And also I vl loose house rent allowance. So to get HA benefit as well escape safely legally I want to register in my mother name. She is retired govt employ and I vl make her Co applicant as suggested by burman sir. Because once property registered by my name it vl be noticed by IT dept. For loan they vl give tax benefit but same time they vl keep eye on my income if I register in my name. Please any details can I get sir pls reply me. . ... Regards.
Rajendra K Goyal
(Expert) 27 March 2014
Income tax benefits can be received only if property is purchased in your name.
You can purchase property in joint name.
rdburmanmusic
(Querist) 28 March 2014
Thank u all for expert answers.
