Interest on housing loan deduction for co-borrower

432 views 1 replies

Sir,  I have purchased a residential house and my mother is a co-owner in the property.  I have taken Housing loan for my share and my mother arranged her own funds for her share.

In housing loan, my mother is a co-borrower and the bank is issuing single interest certificate in both  name, ie. myself and my mother's name.

Now my question is, Can my mother avail deduction of 50% share of Interest & principal of Housing loan paid in her ITR?

Other informations: My mother is not paying EMI, Both of us having taxable income.

Thanks in advance

Biju

Replies (1)

As per Sec 26 if house is co owned and their share is denfinite and ascertainable then they can get concessional tax treatment in respect of self occupied property as though each such person is individually entitled to such relif

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
ARTICLESHIP 08 July 2026
Articles

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
06 July 2026
C.A./CA Inter OR pursuing C.A./GST/Accounts/Audit/IT - Head

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details