Ad-Free CAclubindia and daily updates on your mobile. Subscribe Now!

sec. 80 C

Philip Mathew (113 Points)

09 October 2017

what is the amt that can be claimed under 80 c by joint owners ( A + B) of a house. 1.5 lakhs or 3 lakhs.

Reply
Follow
Share

7 Replies

RAJA P M ("Do the Right Thing...!!!") (127542 Points)
Replied 09 October 2017

Every person claim 1.5lakhs....

lalit gangwani (4 Points)
Replied 09 October 2017

every person can claim max.Rs.1,50,000

Michelle (Service) (297 Points)
Replied 09 October 2017

1.5 lacs each

Philip Mathew (113 Points)
Replied 09 October 2017

which means under 80 c total 3 lakhs.

Michelle (Service) (297 Points)
Replied 09 October 2017

1.5 lakh per owner...... Maximum limit of deduction under 80C is 1.5 Lakh...... So you cannot gross it and say total 3 lakhs

lalit gangwani (4 Points)
Replied 09 October 2017

If the property is self occupied than 1.5 Lakh in single hand can be claimed against interest on house property and if the property is rented out in that case more can be taken as rebate

Philip Mathew (113 Points)
Replied 09 October 2017

the house is regd. jointly and loan taken jointly.
u/s 80 C 1.5 × 2 = 3 lakhs or
1.5 ÷2 = 75000/= each.

u/s 24 2 × 2 = 4 lakhs or
2÷ 2 = 1 lakhs each
required tax for current financial year April 2017 to march 2018.