Income from House Property
This query is : Resolved
Monil Shah
(Querist)
24 July 2010
I have purchased a house worth Rs.50 lakhs in name of my mom,father,brother and myself in FY 2009-10. Each one has 25% share in house property.
I have taken a loan Rs.10 lakhs.I have opened a separate a/c for paying the loan installment.First Name is mine and all others are joint a/c holders.
Qurey :-
1.The loan paid should be treated as paid
by me or equally by all of us as i am the only person who is trferring the amount from my personal a/c to the common bank a/c for EMI payment. Hence,whether the interest paid can be claimed as deduction by all of us or can be claim by only me.
2.I have an option to consider any one or two of
I have taken a loan Rs.10 lakhs.I have opened a separate a/c for paying the loan installment.First Name is mine and all others are joint a/c holders.
Qurey :-
1.The loan paid should be treated as paid
by me or equally by all of us as i am the only person who is trferring the amount from my personal a/c to the common bank a/c for EMI payment. Hence,whether the interest paid can be claimed as deduction by all of us or can be claim by only me.
2.I have an option to consider any one or two of
CMA Ramesh Krishnan
(Expert)
08 August 2010
if the repayment made from the Joint loan of you can be claimed interest by all of joint holders of loan
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