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

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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09 November 2010 Yes, you may claim so much of interest and principal as has been paid by you

taxindiaconnect

taxindiaconnect (Expert)
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09 November 2010 Agreed with ramesh

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