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Income from house property

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(Querist)
03 September 2015 My parents have house property as 50% owner each. Their is loan for which interest is being paid . We are claiming the interest equally for both my parents IT return. My mother's income does not cross the limit of Rs.250000. Can we claim maximum interest in my father's IT return. Please advice.
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
04 September 2015 No it is not possible since they are co-owners. interest deduction will be available equally.
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CA PARTH SHAH

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CA PARTH SHAH (Expert)
06 September 2015 If you want to claim full interest deduction in your father's IT return, then he should pay full EMI from his own bank account. THen he can claim full deduction in his return
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