Housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2010
Hi
i have taken a property in joint ownership with my brother. we applied to SBI and my application was rejected since i have a bad credit history. Subsequently my brother applied to LIC and got the home loan approved in his name. I transfer my share of EMI to my brother's account every month. Recently we got a loan account statement from LIC and it mentions both My brother's as well as my name ( may be because the property is co-owned). the actual loan is on his name only but the lic letter mentions both the names. Can i claim tax exemptions basis this statement of LIC? pls advice
i have taken a property in joint ownership with my brother. we applied to SBI and my application was rejected since i have a bad credit history. Subsequently my brother applied to LIC and got the home loan approved in his name. I transfer my share of EMI to my brother's account every month. Recently we got a loan account statement from LIC and it mentions both My brother's as well as my name ( may be because the property is co-owned). the actual loan is on his name only but the lic letter mentions both the names. Can i claim tax exemptions basis this statement of LIC? pls advice
09 November 2010
Yes, you may claim so much of interest and principal as has been paid by you
09 November 2010
Agreed with ramesh
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