Eligibility of deduction u/s 24 b

This discussion explores the eligibility for interest deduction under Section 24b of the Income Tax Act when a co-owner takes a loan for property construction, even if the loan is in their spouse's name but funds are received by the co-owner. The consensus suggests that interest deduction is typically available in proportion to ownership. However, eligibility hinges on the name appearing on the interest certificate; only the named loanee can claim the deduction unless both co-owners are listed.