Nikhil ( ) (28 Points)
30 June 2011
Sunshine
(Helping All)
(10575 Points)
Replied 30 June 2011
both can take the exemption ....... i think point 1 should be applied...if they are the co owners then it can be bifurcated easily...
valji
(Accounts manager-MBA)
(2150 Points)
Replied 30 June 2011
both the take interest exemption if installment with interest is debit from both the joint accounts ,if installment is debit from only one application then he only take the benefit
for one individual exemption limit is Rs 150000 if two person then take befit upto individual limit which is more then RS 150000 i.e up to RS 300000
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 30 June 2011
| Originally posted by : valji | ||
 |
both the take interest exemption if installment with interest is debit from both the joint accounts ,if installment is debit from only one application then he only take the benefit for one individual exemption limit is Rs 150000 if two person then take befit upto individual limit which is more then RS 150000 i.e up to RS 300000 |
 |
agreed
Ritesh
(Manager)
(22 Points)
Replied 12 July 2011
hi
i have a query on home loan. can someone please respond / reply my query.
Thanks in advance....
If I am purchasing a property. Sellers are joint holders in property. they have requested me to pay amount to them in 50/50 % to each holder's name.
as well they have also requested that BANK Homeloan disbursment should also happen - to both the holders in 50-50% ratio.
is this possible ? can my homeloan provider bank do this ?
if I do payment to both the party due to purchase of properties , will this have any impact on my books of accounts. can I do this ?
Kindly provide respond to my above queries...
Note : - both parties are joint holder and their names appearing in property agreement.
Thanks
Ritesh Shah
hi i have a query on home loan. can someone please respond / reply my query.
Thanks in advance....
If I am purchasing a property. Sellers are joint holders in property.
they have requested me to pay amount to them in 50/50 % to each holder's name.
as well they have also requested that BANK Homeloan disbursment should also happen - to both the holders in 50-50% ratio.
is this possible ? can my homeloan provider bank do this ? if I do payment to both the party due to purchase of properties ,
will this have any impact on my books of accounts. can I do this ?
Will this have any tax implecation to me as a purchaser/buyer of the property.
Kindly provide respond to my above queries...
Note : - both parties are joint holder and their names appearing in property agreement. Thanks Ritesh Shah
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 12 July 2011
as per agreement bank will consider to pay in 50% ratio
CAclubindia
