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Interest / Principal on Housing Loan

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19 March 2011 If a housing loan is taken by jointly Three Co-borrowers :

Case1: repayment is made by all the borrowers equally , can all the three borrowers claims deduction proportenately i.e 1/3 each.

Case2: repayment is made by only Two of the borrowers can the two borrowes claim the tax deduction 1/2 each or can the third borrower also claim the rebate/deduction.

Case3: repayment is made by only one borrower , can he alone claim the deductions, or all the three can claim the deduction.
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CMA Nishad Patkar

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CMA Nishad Patkar (Expert)
20 March 2011
I presuppose that You must be talking about deduction u/s 80 c and in Each case Deduction is available only to persons who actually repay the loan and proof of repayment of principle and interest is mandatory.
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