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?
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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.
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