I have taken a home loan for self occupied property, jointly with my father and brother.
The property also register with name of all three borrowers but there is no clear ratio has described in registry. but all EMI are paying from my account .
Requested to please clarify on taxability on interest and principal repayment.
Can I can claim 100% deduction or required to claim in equal ratio i.e 33.%
It will more beneficial to me if reverted with reference of any case law.
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Joint House Property
Replies (3)
As per my opinion it should be 1/3rd. wait for others opinion also
Mr Rajendran is correct it has to be divided equally
Dear Harsh...
Eventhough it is paid from ur account....I think you can claim only your part in the interest....may be equal or any agreed ratio....
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