Housing loan interest

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 December 2014 Sir,

My friend has purchased a flat with his brother(first name) and he being in second name with housing loan. Now my friend being second name in bank loan is wish to get full exemption in Principal(80-C0 rs.23000/- and int. Rs.85000/- (u/s 24-B) can he get full exemption although property is in joing and his brother will not claim for the same. please answer my query and if any doc is needed to give to his employer

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 December 2014 he can get till the extent he is the owner and the amount he actually pays, in short porportional claim is allowed both under sec 24(B) and sec 80C

Rupesh Jain

Rupesh Jain (Expert)
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22 December 2014 he get the deduction if he make payment of loan amount from his bank account.

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