Interest on Housing Loan


(Querist)
19 October 2019
Sir
Please comment on the Housing Loan Interest in the following:
I
Jointly owned Property(A & B) and Housing Loan taken in the name of assessee(A). Total interest during the FY is 205000, Can assessee claim Interest of Rs.200000?/102500?
II
Jointly owned Property(A & B) and Housing Loan taken Jointly(A&B). Total interest during the FY is 205000,
Only A is the assessee Can he claim Interest of Rs.200000?/102500?


B.Chackrapani Warrier (Expert)
20 October 2019
I. 1,02,500 if co -owner's have equal ownership.

II. 'A' only can claim 1,02,500 if co -owner's have equal ownership.

RAKESH (Querist)
21 October 2019
Thank you Sir.
Can Assessee claim Interest upto Rs.2Lac for Extention of self occupied house Property

B.Chackrapani Warrier (Expert)
22 October 2019
Yes per section 24(b).


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