Deduction for home loan installment for co-owners
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2010
ther are MrX & MrsX purchased a flat on loan jointly, Mr x is owner & Mrs X is co-owner now the question is how both can claim deduction under sec80C , if suppose mr x paying cheque from joint Bank account then how Mrsx can claim benifit u/s 80C , if limit of section 80C is over then how they can claim deduction under House property if they about to get possession in september i.e. there required to compute interest undre pre possession method to amortised over loan term?
Please advice me on above query
Please advice me on above query
08 June 2010
Mr & Mrs X both can claim ded u/s 80C upto 1 Lacs each. No if it is for this financial year only. no need to calculate separately. If interest is paid in prev yrs also then upto 31/3/10 consolidate intt & claim it in coming 5 yrs FY10-11 to 14-15.
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