SIR,
A PROPERTY WAS PURCHASED BY THREE BROTHERS JOINTLY, AND IT WAS ALSO MORTGAGED WITH BANK FOR HOUSING LOAN, NOW THE BANK DEDUCT THE EMI FROM A SINGLE BROTHER'S ACCOUNT, WHEN CALCULATING HBA INTEREST AND PRINCIPAL , IT MUST BE DIVIDED BY 3 OF THEM RIGHT?
overall computation depends up on ownership of the property are they co-owners of property? and are they sharing the Income from House property as per share determined if any
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
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