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Housing loan & inetrest deduction

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 March 2013 Dear Expert

Incase of Housing loan deduction for owner and Co owner, please answer the below

Can owner take only EMI principal amount deduction up to Rs. 1 lac and Co owner for Int up to 1.5 Lac OR it is mandatory for both EMI/Interest amount should be taken proportionately between owner and co owner.
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Guest

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Guest (Expert)
08 March 2013 deduction will be available to both person

in case of principal amount within limit of 80(C)

in case of interest rs. 1,50,000 to both individually
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
08 March 2013 agree with CA Ashish
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