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Housing loan repayment

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481 Points Posted on 07 September 2007
Housing loan is taken in the name of two persons and the repayment is made by only one person.House property is in the name of the two persons.Is it possible for the person making the repayment to claim the the exemption for the amount paid by him under Section 80C.Please let me know if there are any departmental clarifications.
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On 07 September 2007 at 12:29 Report
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Chartered Accountant
340 Points Posted on 07 September 2007
it is clearly mention in section which stays pewrson paying the entire amount is eligible for deduction fully even though he might be co-owner.
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On 07 September 2007 at 14:35
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Article (Final Result waited)
391 Points Posted on 07 September 2007
i m satisfy with nitesh
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On 07 September 2007 at 16:31
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Article (Final Result waited)
391 Points Posted on 07 September 2007
i m satisfy with nitesh
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On 07 September 2007 at 16:32
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profession
92 Points Posted on 07 September 2007
i m satisfied for 80c but deduction u/s 24 shoild be taken by both ie, this sec provide deduction on accrual basis but 80c provide on payment basis
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On 07 September 2007 at 18:25


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