banner_ad

house loan interest deduction

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 March 2008 my house is jointly owned by my mother and we two brothers. we have taken a house loan and paid Rs. 166000 as interest. can i and my brother both can claim deduction of Rs.83000 as total deduction limit is Rs. 150000.
Profile Image

Amit

Profile Image

Amit (Expert)
03 March 2008 Dear Shruti,

If house is joint and brother is also paying loan from his own income, he can claim the deduction. But it will be helpfuul to decide the share in house of each of the joint holder and share in loan of each of the joint holder.
Profile Image

CA Hemant T Dewani

Profile Image

CA Hemant T Dewani (Expert)
03 March 2008 if loan is paid proportinately then you will get deduction 1/3 of the loan payment
if loan amount is paid by one person then
full deduction is not availalble to you or your brother
Profile Image

Devendra Mishra

Profile Image

Devendra Mishra (Expert)
03 March 2008 Yes you can proportinately take benifit.
Profile Image

CA. Kirti S. Ganatra

Profile Image

CA. Kirti S. Ganatra (Expert)
03 March 2008 Yes you can proportinately claim so as per payment made
Profile Image

CA Saurabh Maheshwari

Profile Image

CA Saurabh Maheshwari (Expert)
03 March 2008 CAN TAKE BENEFIT PROPORTIONATELY
Profile Image

VIPUL BHANDARI

Profile Image

VIPUL BHANDARI (Expert)
03 March 2008 yes dear Proportionately u can claim the deduction, but overall limit of Rs. 150000.00 is per head so u can continue with u idea
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details