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house property of co owner
If a house is owned by more than one person, then is there any rule for using the complete loan availed for construction of house for deduction in tax by a single owner with the consent of the other
Replies (2)
Refer section 26
if share of co owners is determine then income is taxable as per thier share and also they claim deduction of interest maximum rs 200000 each. in case SoP only. but house rent is received No limit of interest.
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