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Income from house property

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(Querist)
04 December 2012 A residential property is purchased in the name of father and his 2 sons...but at the same time the housing loan is taken in the name of Father, his 2 sons and spouse of all 3. Hence the housing loan is taken by 6 people.Who all shall be eligible to claim housing loan deduction?
Is there any remedy?
can any one provide me any case laws for reference?
i shall be of great help!
Thanks
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CA Manish

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CA Manish (Expert)
05 December 2012 The three persons can take the benefit of interest on loan in whose name property is registered.
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Pankaj Gupta

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Pankaj Gupta (Expert)
05 December 2012 If the spouses of all the three sons have their own income then I agree with the answer of Mr. Manish.
But in case where they do not have any income then the interest payble by them shall be clubbed in the hands of their spouses and the deduction shall be available to them.
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Soumitra Basu

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Soumitra Basu (Expert)
08 December 2012 I DO NOT AGREE WITH MR PANKAJ BUT DO AGREE WITH MANISH
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