Interest on housing loan..
This query is : Resolved
16 March 2011
Mr.K & Mrs. K jointly hold a House property in mumbai which is self occupied by both. Mrs.k is a co owner to the property. She is also the co borrower to a Housing Loan . Interest for that year of Rs. 76,229/- was also paid from their joint A/c.They both file their IT Returns.
Can Mr.k claim the entire amount u/s 24 or should it compulsarily be claimed by both? If it is to be claimed by both, then in what proportion?
Thanks in advance..
Can Mr.k claim the entire amount u/s 24 or should it compulsarily be claimed by both? If it is to be claimed by both, then in what proportion?
Thanks in advance..
Aditya Maheshwari
(Expert)
16 March 2011
when everything is jointly then how can interest be calimed by only one person
CA Ravi Sisodia
(Expert)
16 March 2011
in case of joint ownership interst should be divided among Mr.K & Mrs. K in their share of ownership.
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