Respected Sir/Madam,
I am writing this query in order to clarify some doubts on House Loan Payment
Suppose, a daughter was paying the Home Loan EMI on Parents' owned Property,
whether she can avail 80C deduction?
Note: Parents are dependent on Daughter.
In above case, lighten me when there is income from such house property too.
if she cant claim the deductions, how supposed she to claim the same either by being a Co-Borrower or Co-Owner.
kindly let me know in this regard
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Income from House property
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Suppose, a daughter was paying the Home Loan EMI on Parents' owned Property, whether she can avail 80C deduction? No. To avail the benefit she should be owner/co-owner of the property, with co-borrower of the loan as well. In above case, lighten me when there is income from such house property too. if she cant claim the deductions, how supposed she to claim the same either by being a Co-Borrower or Co-Owner. Any income earned is taxable in the hands of owner/s, in the ratio of their shares in the property. |
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