Relief under chaptervi deduction
This query is : Resolved
20 March 2018
An assesee of 68years of age still continuing with the job. He has jointly with her daughter taken loan from a bank in the Year 2016-17. He himself is paying off all the loan amount however the amount is being transferred to his daughter account on monthly basis. Also the PAN shown in the loan statement is of his daughter as the primary hold, and he is just a secondary holder in the LOAN. My query is how much portion of the loan amount can be shown in his Chapter VI deduction?? Can he Claim for the entire loan amount repaid in his Deduction??
21 March 2018
Is it Housing Loan?
If Yes...
Who is the Property owner?
21 March 2018
Yes its a housing loan. both of them are joint owners of the property
29 September 2021
Yes, he can get full deduction subject to limit u/s. 24(b) of the act..
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