Joint loan - proportion of claiming deduction u/s 24(b)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2012 If my wife and I have taken a home loan for a non-self-occupied house, is it possible for one person to claim the entire interest amount as "loss of income from house property" u/s 24(b), while the other person claims the entire principal repayment? If not, in what proportion should both be claimed? The rental income is deposited in a common joint account.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

26 July 2012 No, the proportion of claim should be based on the ownership proportion in the property, if not mentioned anything, need to claim 50:50 ratio.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Ashwin Tanna

DSK TMC

avulaandcopdrl 2023

Pawan Haryani

ramesh kumar

Subscribe Now

Joint loan - proportion of claiming deduction u/s 24(b)

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANT

Manager- Finance and Compliance

GST CONSULTANCY

CA Final

Senior Executive