Housing Loan
This query is : Resolved
Prasanna Bhat
(Querist)
03 February 2009
Sir,
If the housing loan is in joint name what is the percentage they can claim as incometax exemption pls let me know
If the housing loan is in joint name what is the percentage they can claim as incometax exemption pls let me know
03 February 2009
1) In proportion to the ownership of the house.
OR
2) In proportion to the repayments made by the co owners.
Pl note that there is no hard and fast rules. Assessee has to substantiate the claim on a reasonable basis as suggested above among others.
OR
2) In proportion to the repayments made by the co owners.
Pl note that there is no hard and fast rules. Assessee has to substantiate the claim on a reasonable basis as suggested above among others.
04 February 2009
It is always in the proportion of their respective repayments.
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