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


shaikh sajeed (Associate)     18 February 2020

shaikh sajeed
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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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RAJA P M ("Do the Right Thing...!!!")     18 February 2020

RAJA P M
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What about property's shareholders?

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shaikh sajeed (Associate)     18 February 2020

shaikh sajeed
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Father's property

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RAJA P M ("Do the Right Thing...!!!")     18 February 2020

RAJA P M
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Property owner only can claim that benefit of home loan deductions...

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shaikh sajeed (Associate)     18 February 2020

shaikh sajeed
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If its in the agreed ratio between the two parties then???

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RAJA P M ("Do the Right Thing...!!!")     18 February 2020

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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...

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Kapadia Pravin   19 February 2020

Kapadia Pravin

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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).

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