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
CAclubindia
