Housing loan
This query is : Resolved
31 July 2012
Ten years back I bought a flat & took housing loan from bank. Flat agreement includes my name first, then my father (now no more/expired) & sister. My father & sister's are co-borrower as per loan agreement, but myself only making the payment of EMI being an only earning member. Whether I can claim 100% deductions of interest & principle amt.from my total income? or I can only 1/3rd of it? Please advice.
31 July 2012
You are entitle to claim deduction in a ratio of your share in house property (i:e 1/3) under sec 26.
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