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deduction u/s 24b and 80C

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 June 2011 sir,

three person took loan jointly but repayment is being made by one person, could he claim whole amount of interest & principal amount in his assessment wholly,

or by passsing journal entry all three person are elegible in his own assessment respectivaly

property is shown 1/3 in every assessee equally

please solve my querry
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
03 June 2011 No,
Deduction will be available to the extent of loan amount belongs to the assessee.
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