Interest on housing loan

I think you and your father can claim 50-50% as you both are paying EMI. Let's see others view also

Hi,

It will be available as 1/3rd to each. Deduction u/s 24(b) is not related to payment of emi or earning of income as it is allowed on accrual basis.

Regards

CA Shivani Mittal

Since all Co -Owners are eligible to claim interest individually,  interest will be allowed according to your share in the property in your case 1/3 each.

As the EMI is paid by you and your father, do get a declaration from your mother that the you both will pay the EMI for the entire loan, and she will not claim any benefits  on interest against her share. Since the act allows to carryforward the loss on house property resulting by way of interest claims in case of self occupied property for each co-owners.

yes it can be claimed