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PROPORTIONATE RATIO OF HOME LOAN INTEREST BETWEEN FATHER AND SON, SPOUSE WHILE REPAYMENT

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Associate
151 Points Posted on 18 February 2020
In what ratio HOME LOAN INTEREST AND PRINCIPAL AMOUNT BE DISTRIBUTED among father and son, wife and husband? In what percentage the amount be calculated while income tax payment.?
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On 18 February 2020 at 15:31 Report
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"Do the Right Thing...!!!"
128147 Points Posted on 18 February 2020
What about property's shareholders?
463 Reply
On 18 February 2020 at 16:03
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Associate
151 Points Posted on 18 February 2020
Father's property
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On 18 February 2020 at 16:13
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"Do the Right Thing...!!!"
128147 Points Posted on 18 February 2020
Property owner only can claim that benefit of home loan deductions...
463 Reply
On 18 February 2020 at 16:15
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Associate
151 Points Posted on 18 February 2020
If its in the agreed ratio between the two parties then???
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On 18 February 2020 at 16:54
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"Do the Right Thing...!!!"
128147 Points Posted on 18 February 2020
If property owners is two or more then they can claim deduction who is in the property owners...

Condition is who will claim deduction they must be owner of the property...
463 Reply
On 18 February 2020 at 17:04
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17264 Points Posted on 19 February 2020
He must have taken housing loan in his name or as a co-borrower

He must be owner or one of the co-owners

The house / flat must be chargeable under iFHP as SOP

Each co-borrower gets 2 lakhs limits under 24(2) towards interest deduction under 24(2).
101 Reply
On 19 February 2020 at 01:05


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