Loss under h.p and deduction u/s 80c

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priyank (Querist)
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04 July 2012 I have taken H.P. and i m sole owner i.e in sale deed only my name is there and i have also taken housing loan form bank in the name of my wife and i m also the co-applicant in loan and repayment of loan is made from my S/B A/c. Issue is who is eligible to take loss under H.P.(interest)and deduction u/s 80C(principal repaid)?? myself or my wife?? both are filing return!!! plz quote judgement if any....

CA Prashant Gupta

CA Prashant Gupta (Expert)
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04 July 2012 as per my view as house is in only your name and you are co-applicant in home loan, So only you can claim both loss on house (interest) and 80 C for principal amount.

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