banner_ad

Interest claim in case of joint prorerty loan

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 May 2010 I have Purchased a house on Joint Name by taking home loan on the same joint names. At the end of year, Banker have charged interest. Now my query is that who can claim deduction of interest for calculating taxable income & tax?

-since only one member of the two is th eearning member & he wants to claim total interest on his name.Can he do so?


Regards


Gaurav Kumar
Profile Image

CA BIREN SHAH

Profile Image

CA BIREN SHAH (Expert)
07 May 2010 proposnate interest will be allowed as deduction u/c 80C.total interest will not allowed to single person.
Profile Image

Rahul Gupta

Profile Image

Rahul Gupta (Expert)
07 May 2010 Agreed. Interest paid is claimed only in proportionate to the share by both members.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details