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Deduction uder income tax act

Tax queries 465 views 2 replies

In case 2 persons have applied for a loan on single unit of house property and only 1 person pays off the principal and interest of the loan. Then how the deduction under sec 24 and sec 80C be available to bith the persons?

Replies (2)

The ownership of the house is also important. The deductions will be allowed to the person repaying the loan in the proportion of his ownership

Shikhar 

 

first you let us know that 1.  i whose name is that property registered.  2.  who is paying loan EMI

 

to know the right ans of your query


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