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
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
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
22 December 2014
he get the deduction if he make payment of loan amount from his bank account.
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