Deduction Under Section 24
This query is : Resolved
Jagdish Narayan Sawant
(Querist)
12 November 2009
House property purchased in joint name after 1.4.1999 and and it is self occupied, installment also paid jointly by both owner,
whether deduction under section 24 for Interest on borrowed capital will be restricted to Rs. 150000/- for both i.e. Rs. 75000 each/- or it will be available upto Rs. 150000/- per borrower
whether deduction under section 24 for Interest on borrowed capital will be restricted to Rs. 150000/- for both i.e. Rs. 75000 each/- or it will be available upto Rs. 150000/- per borrower
CA Ravi Sisodia
(Expert)
12 November 2009
Total deduction is Rs. 150000 even under the case of joint owner.
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