Interest on housing loan deduction for co-borrower

Baiju KS (Accounts Manager) (31 Points)

17 November 2014  

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