Deduction u/s 24(b)?

Sharad Saini (Student) (286 Points)

28 November 2011  

hi

I have a problem related to House Property.....

Four Brothers took a loan from Bank and purchased a Land and constructed house on it. They got the property regd. in the name of their mother. 

Now they are paying the installments. Only 2 brothers are paying the installment contributing equally, remaining two do not contribute as they are studying and do not have any income. Property is self occupied.

Who will get the deduction of Intt paid u/s24(b) of the Income Tax Act? and how much?

Who will get deduction of principle u/s 80?

 

Thanx .....