Deduction

Tax queries 391 views 2 replies
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Audit
115 Points Joined February 2010

Hi,

 

In Dedcution we can claim Housing loan princial. In that the housing loan was taken by two brothers. The agreement is with first name of elder brothe follow with younger.

 

Now the younger brother likes to claim the entire housing loan principal, whether it was possible?

 

 

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On 07 January 2013 at 09:32 Report
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kchakravarthi2008@gmail.com
112 Points Joined February 2011

IF THEY ARE CO-BORROWERS THEN NO. IF SECOND ONE IS FOR SURITY PURPOSE THEN NO. IF BOTH ARE BORROWERS THEN SECOND ONE CAN CLAIM ONLY 50% 

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On 07 January 2013 at 10:22
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not possible... both younger and elder brother can claim maximum of 50%

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On 07 January 2013 at 17:33


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