deduction on housing loan
This query is : Resolved
16 July 2009
I have taken 2 housing loan both jointly with my 2 brothers.one for purchase of house and one for rennovation of the same house. total amount of loan is Rs. 35 lacs. repayment of principal during the last financial year is 20406/- and intt. amount is 413118/-. 1st name in the loan agreement is of my brother. I want to know the deduction which i can avail during the file of I.Tax Return.
16 July 2009
if the loan/property is on joint name then every joint holder can avail the deduction as per there share.
80C - Repayment of Principal
Interest - Loss under the head House Property. (upto 150,000 per holder)
80C - Repayment of Principal
Interest - Loss under the head House Property. (upto 150,000 per holder)
16 July 2009
Agreed with tilak
16 July 2009
Your question is not very clear, please tell dear who is making the loan repayment......
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