Ded. u/s 24(b) income from house property

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piyush (Querist)
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22 August 2013 if a loan taken in a joint account for construction of house, deduction of Rs.1,50,000/- will be allowed to both joint holders SAPERATELY or it is the maximum in any of the case???

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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22 August 2013 Both co-owner is eligible to take deduction of Rs. 150000/- separately, Under Section 24(b)

piyush

piyush (Querist)
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23 August 2013 But sir in this way every assessee will claim a seperate deduction by taking a loan under joint account.

according to your answer there is a benefit to assessee????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 August 2013 Yes it is allowed.
Moreover if the house is let out or deemed to be let out then limit of rs 1,50,000 is also not applicable as such limit is applicable for self occupied house property only.

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