Deduction u/s80(c) for 4 family members for joint property

S S Dahale ( Agri and business) (439 Points)

31 January 2018  

   4 family members,from a joint family  wants to purchase a  old bungalow  , as 2 nd residence, can bank give them HOUSING LOAN , can all Individuals claim deduction u/s 80(C)and interest  u/s 24 for the proportionate loan repayment of that housing  loan, as property will be in  the name of all the persons( mostly in equal ratio)