property taken jointly by father and tree brothers
can we claim full deduction in one brothers income tax return as others do not have taxable income
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Housing loan deduction co owners
Replies (4)
No,
You can claim the share of loan in respective individual's income tax returns
The tax rebate will be available in the proportion of their share in the loan.
No,Deduction can be claimed in Proportion of "Ownership "
Deduction u/s 24(b) is available to all co- owners in their respective & defined share.
Weather it self occupied or not, if it is self occupied then determine the propotion of the self occupied and Acc., to sec. 26 deduction under section 24 is avilable independently
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