Home loan Interest

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301 Points Posted on 08 January 2021
if...loan..in..the name of three persons...but...repayment..is from my bank account...who claim..interest deduction...me or all of them..
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On 08 January 2021 at 14:49 Report
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Quick Summary
If a home loan is in the names of three individuals but repayments are made from a single bank account, all three individuals can claim the interest deduction. The deduction for interest on borrowed capital can be claimed proportionately among all borrowers.

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Accountant
4533 Points Posted on 08 January 2021
All of them can claim exp
1 Reply
On 08 January 2021 at 16:01
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A CA student
51 Points Posted on 08 January 2021
Interest on borrowed capital deduction can be claimed proportionately
2 Reply
On 08 January 2021 at 18:20

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