Suppose we have taken home loan in the name of three family member, who are also the owner of the home but emi on the same is only paid by one member.
Whether interest portion can be claimed by other member?
Soppose interest is 250000 one person claims 200000 and other 50000
But entire amount is paid by one
Thanks
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Deduction u/s 24b - Interest on loan
Replies (3)
Quick Summary
Yes, possible if the payment receipts issued by bank are in all three names, jointly.
Also, have purchased the house from second seller and the building is still under construction, can we claim in the same year?
Also, in agreement the ratio of ownership is not mentioned
Further, the home is taken in all the three members name so while taken deduction we have to divide interest in the ratio of ownership?
Also, in agreement the ratio of ownership is not mentioned
Further, the home is taken in all the three members name so while taken deduction we have to divide interest in the ratio of ownership?
1. No. Not allowed over under constriction property, till its completed.
2. Not mandatory.
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