Co-ownership SOP

Others 204 views 1 replies
Example, A and B are co owners of a house property in ratio of 80:20.
Interest on loan due for the year
= Rs. 5,00,000
They paid the interest 2,50,000 each.
Will they get deduction as per 250000 each (being reduced to 200000 each)

OR

in the ratio of 80:20
i.e. 400000(being reduced to 200000) and 100000??
Plz help.
Thank You.
Replies (1)
yes he get deduction 200000 each as per section 24(b)


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