Income tax

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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Quick Summary
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.

The benefits will go to Mr. Y only.
Mr.y only

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