House property loan interest deduction

Yes. Both the interest on borrowed capital and the Repayment of Housing Loan (80 C) should be shared by them in equal or as agreed upon.

Yes,   it can be cailmed by all the joint owners subject to individual ceiling limts ( 150,000 or full , as the case may be ) but there should not be excess claim in total.

YES THEY CAN DIVIDE EQUALLY OR ANY OTHER MODE WHICH ARE DECIDED BY THEM.

in this case , each individual can claim Rs.1,50,000 or Rs.75,000?

its 1.5 lacs each maximum limit 

It can be claimed, but the property should get registered in both of your names,...both of you should be co-owners....

Both can claim but the property should be in their joint name.

Hi There,

I have a question for the experts:

My Mom and I purchased a property which we are self-occupying. The interest component of EMI is 2,00,000. We both own 50% of the property in the registery papers.

Only I am paying the EMIs - Can both of us claim 150,000 seperately for tax break under housing interest payment?

Regards, 

Hey Shivender,

logically , if both of u claim 1.5 lakh each, wont it ( total intreat claimed as deduction) be 3.0 lakh and more than what u actually paid.    how can it be allowed ????   think over it.

u can claim upto ur max ceiling limit of 1.5 lakh, and let ur mom clim the rest.    do consider the factor of her own individual tax slabs.

the pricipal paid also should be considered under 80C in same proportion as intrest.

Originally posted by : ABCDEF
	Hi There,   I have a question for the experts:   My Mom and I purchased a property which we are self-occupying. The interest component of EMI is 2,00,000. We both own 50% of the property in the registery papers.   Only I am paying the EMIs - Can both of us claim 150,000 seperately for tax break under housing interest payment?   Regards,

these sections are available on actual payment basis, so u can claim max 1.5 lacs only 

reg 80C u can claim max 1 lac only 

if monther has paid any share then she can claim her share on payment basis subject to max celing of 1.5 lacs and 1 lacs.