Housing loan
This query is : Resolved
04 August 2014
If husband and wife are joint owner of property and they availed loan on joint name and repayment also made jointly. Now deduction u/s 24 for interest and 80c for Principal repaid is available individually or aggregate. means deduction for 1.5 lakh available to each holder or 1.5 lakh aggregate according to % of ownership.
04 August 2014
The deduction of interest on borrowed capital u/s 24 upto Rs. 1.5 lakh is available to both of them separately subject to the interest actually paid by them in accordance with their share of ownership. Similarly, section 80C benefit for principal repayment is also available separately and they can claim principal repaid by them in accordance with their share of property.
04 August 2014
they can claim individually both the benefits of principal and interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- LIC maturity claim whether taxable
- Journal entry of busniess expenses
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
