housing loan interest
This query is : Resolved
28 January 2010
Dear sir,
In case of housing loan taken in a joint name, limit of Rs. 150000/- toward interest u/s.24 will be applicable jointly to both or both will be eligible for deduction of Rs. 150000/- seperately???
In case of housing loan taken in a joint name, limit of Rs. 150000/- toward interest u/s.24 will be applicable jointly to both or both will be eligible for deduction of Rs. 150000/- seperately???
28 January 2010
Int paid @ 150000/- can be claimed separately U/S 24 by both , if the property is registered under joint name, loan is in joint name & EMI also paid jointly .
28 January 2010
both can claim.
28 January 2010
all the joint holders can claim deduction of Rs. 150000/- separately.
28 January 2010
both the joint owners can claim
29 January 2010
It's the beauty of this section. Rs.1.5Lacs deduction can be claimed by each of the joint owners subject to the fact that property & loan are in joint name & EMI is also paid jointly
29 January 2010
agree with experts i think it is a loop hole in I.Tax act it may change later in retrospctive effect
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST rate and HSN code for sale of racing horses
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
