We have joint home loan account including me, my brother and mom-dad. Although the home loan EMI is getting paid by only my brother and me. Now as my brother's income under salary head is less so he is not claiming the tax benefits of loan's interst rate amount which can be claimed apart from 80C. So can I claim that amount in my ITR? And if yes, then How can I do so, legally?
Property is self occupied not rented.
Yes, we are co-owner of house.
But can I take the benefit of 100% interest amount which is applocable for last financial year, as it is not getting claimed by any other co-owner. Total EMI is paid by only me and my borther with 50:50 ratio.
Yes, we are co-owner of house.
But can I take the benefit of 100% interest amount which is applocable for last financial year, as it is not getting claimed by any other co-owner. Total EMI is paid by only me and my borther with 50:50 ratio.
Aggarwal Sarawagi and Co
New Delhi
CA
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