I have taken the housing loan with two other co-applicants and the repayment is also made by all the three person but the 100% ownership of the property is lies with only one co-applicant. Can Deduction be claim by all the three co-applicants?
Menu
Deduction u/s 80 c and 24
Replies (2)
As per my opinion, deduction can be claimed only by persons who share ownership in the property.
Other experts may make necessary correction..
Yes it is necessary to be owner/co-owner for getting tax benefits under Income tax Act.Other co-applicants can not get deductions.
Recent Topics :
- Upload Type - Correction. Not showing in TDS filli
- Partnership tax audit query
- ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V
- Form 146 foreign remittance us citizen
- GST 16(2) notice
- Which GSTR-1 upload error do you hit most often?
- Need advice regarding accounting fees
- Is it possible to get a refund for an accidental o
- ITR-3 Section P&L - speculative income - no bo
- Foreign Assets reporting
Related Topics :
CAclubindia
