Deduction u/s 24
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 May 2012
IF HOUSING LOAN IS BEEN TAKEN IN JOINT NAME, AND INTEREST PAID FOR A F.Y IS RS. 300000 AND PRINCIPAL PAYMENT OF RS. 200000. CAN BOTH THE ASSESSE CLAIM DEDUCTION U/S 24 FOR RS 150000 & U/S 80c FOR RS. 100000. IF YES THEN WHAT ARE THE PROVISION NEEDS TO BE CONSIDERED.
21 May 2012
Each joint owner can claim deduction for Rs. 1,50,000 and Rs. 1,00,000 separately.
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