home loan repayt & int in combined name and tax treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2010
we are two brothers. we want to take a homeloan.
i want to ask a query regarding treatment of deduction of interest & repayment of principal if we pay the loan combindly suppose in proportion of 50% 50%
can we both claim the deduction in income tax in above proportion??
please reply me as early as possible so that i can plan the housing loan.
also make me understand what is to be done to take this benefit????
i want to ask a query regarding treatment of deduction of interest & repayment of principal if we pay the loan combindly suppose in proportion of 50% 50%
can we both claim the deduction in income tax in above proportion??
please reply me as early as possible so that i can plan the housing loan.
also make me understand what is to be done to take this benefit????
Aditya Maheshwari
(Expert)
06 September 2010
visit this link
https://www.caclubindia.com/forum/all-about-home-loan-deduction-u-s-80c-amp-24-b--103108.asp
You both can claim in case of a joint ownership in proportion of contribution i. e. equally.
https://www.caclubindia.com/forum/all-about-home-loan-deduction-u-s-80c-amp-24-b--103108.asp
You both can claim in case of a joint ownership in proportion of contribution i. e. equally.
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