House loan

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pooja Garg (Querist)
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03 October 2017 Hi,

My question is I am Individual i have taken House loan So I want to know ( principal and Interest of house loan) for IT Purpose. I can divide loan and property of house.

ALKESH T MEHTA

ALKESH T MEHTA (Expert)
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03 October 2017 Principal amount of repayment of loan is allowed U/S 80 C i.e. maximum amount allowable is Rs.150000/-,along with other deductions.Interest on home loan is allowed U/S 24,subject to Rs.200000/-.

pooja Garg

pooja Garg (Querist)
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03 October 2017 thanks Sir,

One more question in same quarry. I can divide house loan instalment amount to family member for IT purposes??

ALKESH T MEHTA

ALKESH T MEHTA (Expert)
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10 October 2017 Mere division of house loan instalment to family member will not serve purpose.The co-borrower must be joint owner of your house property

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