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Query on tax deduction for housing loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 November 2010 Helo,
To avail tax deduction under section 80C and section 24B for housin loan (taken for acquiring new house), should a person be both co-owner as well as co-borowwer? Or can he be only the co-applicant to the housing loan?

Please advice for financial year 2010-11.
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CA SIDHARTH HIRALAL PATNI

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CA SIDHARTH HIRALAL PATNI (Expert)
16 November 2010 Person must be co-owner and co-applicant. Just because of he is co-applicant he can not get benefits of above section.

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