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Deduction under joint home loan
There is a joint home loan of husband wife in a bank & installment is deducted from their joint account.. Then who will be eligible for deduction under Section 80
Replies (6)
Both can claim the deduction upto payments made, provided both are co-owner in the property.
Is it mandatory to have an agreement regarding proportion of payment made towards home loan
No, but stick to ownership ratio as defined in original purchase agreement, or 50:50.
Thank you
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