Income tax

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student
112 Points Posted on 13 October 2020
a home loan is taken in name mr x, and instalment are also repaid by mr x,but property is regustered in name of mr y,both x and y are real brothers,who will get benifits of 80 c and 24b,x or y
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On 13 October 2020 at 11:10 Report
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This discussion clarifies who is eligible for tax benefits under sections 80C and 24b of the Income Tax Act when a home loan is taken out by one brother (Mr. X) but the property is registered in the name of his brother (Mr. Y). The consensus is that only the registered owner, Mr. Y, will receive these tax deductions.

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accountant
888 Points Posted on 13 October 2020
The benefits will go to Mr. Y only.
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On 13 October 2020 at 19:57
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CA IPCC Student
16 Points Posted on 19 October 2020
Mr.y only
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On 19 October 2020 at 12:28

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