Rebate of housing loan
This query is : Resolved
RAJESH KUMAR
(Querist)
29 September 2017
My father owned a property in his name. I am coming borrower in bank loan account. I pay the full installment of loan. Can I claim 100% deduction of HOUSING loan?
Ashiwini Ballodia
(Expert)
29 September 2017
Deduction u/s 80C Maximum deduction of Rs. 150000 for principal repayment and Deduction u/s 24 i.e income from house property Maximum deduction of Rs. 200000 for interest repayment
29 September 2017
Yes I agreed with Mr Ashiwini Ballodia...
Available deduction Under section 80C Rs. 150,000/- (Include all deduction under 80C)
Rs 200,000 is maximum deduction allowed u/s 24 ...
K Srinivas, CMA CS
(Expert)
29 September 2017
And to avail home loan deductions, you must also be a joint owner of the property. Merely being a co borrower will not be considered
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