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Deduction of interest of housing loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2012 Dear Sir

If two persons are co owner of a property , and a single owner is making payments of EMIs for housing loan , whether the other co owner , would be able to claim the deduction , since he is the co owner of the property.Whether case will differ if they both are husband and wife.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 February 2012 In case housing loan also in the name of both owners then both are equally can claim the interest unless no sharing proportion mentioned in the property. if the housing loan is in one person name and paying by that person then he only can eligible to claim.
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anurag

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anurag (Expert)
24 February 2012 other co owner is not paying emi, no expense from his income, hence not eligible.
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