Dear colleagues,

Pls. tell me that in the following situation can i get rebate u/s 24 of IT Act.
Interest on Housing Loan :

Facts are:

I have a plot in my father's name.
Plot is registered in my father's name.
Plot has been purchased by my father by his own money.

I do not want to transfer/register this plot in my name.
Now i want to construct it taking loan from bank.
I & my brother will take the loan as MAIN BORROWER & my father as CO-BORROWER.

I & my brother will Repay the loan from our personal bank accounts.

Can i & my brother will take the benefit & claim deduction u/s 24
Interesr on housing loan & what extent.
i.e if I & my brohter paid intt. rs. 150000 each total intt. 3000000/- then both claim deduction of rs. 1500000/- each or not.

Your valuable suggestion will help me about this matter.

Thanks & Regards.
CA Saurabh

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Form 17 is where is applicable please tell me.

Thanking You

My e mail id is = sunil_kumar10520@yahoo.com

Form 17 is where is applicable please tell me.

Thanking You

My e mail id is = sunil_kumar10520@yahoo.com

Form 17 is where is applicable please tell me.

Thanking You

My e mail id is = sunil_kumar10520@yahoo.com

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