HOUSING LOAN DEDUCTION U/S 24(B) IN CASE OF JOINT OWNERS
This query is : Resolved
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24 March 2021
Hello
Total Interest on Housing Loan is more than 400000/- & the EMI are being only paid from Father Account. Can Son (Co-Owner) claim deduction u/s 24b of Rs. 200000.?
Father is already claiming his part of deduction of Rs. 200000.
Total Interest on Housing Loan is more than 400000/- & the EMI are being only paid from Father Account. Can Son (Co-Owner) claim deduction u/s 24b of Rs. 200000.?
Father is already claiming his part of deduction of Rs. 200000.
24 March 2021
1)Son can claim interest deduction 24(b)
2)Principle deduction possible only if payment is done from son account
2)Principle deduction possible only if payment is done from son account
24 March 2021
CAN SON TAKE 80C DEDUCTION OF PRICIPLE PART IF PAID BY HIM. AND HE IS OWNER OF THE HOUSE .
24 March 2021
Yes, son can claim 80C FOR PART PAID BY HIM
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