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PROPORTIONATE RATIO OF HOME LOAN INTEREST BETWEEN FATHER AND SON, SPOUSE WHILE REPAYMENT
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.?
Replies (6)
Quick Summary
What about property's shareholders?
Father's property
Property owner only can claim that benefit of home loan deductions...
If its in the agreed ratio between the two parties then???
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...
Condition is who will claim deduction they must be owner of the property...
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).
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).
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