Deduction U/s 80c for principle paid on house loan

This discussion explores whether spouses can claim deductions under Section 80C and 24b for a home loan taken by four brothers and their spouses. While the land is owned by the brothers, the house is considered an asset for all. Eligibility for deductions hinges on being a co-owner and borrower, with spouses potentially eligible if their names appear on the loan documents and they are repaying the loan. However, some opinions suggest only the four brothers, as the primary owners, can claim these tax benefits.