Repayment of Principal and Interest Component of HB Loan

Tax queries 792 views 2 replies

Suppose, Me (A) & my brother (B) have taken Housing loan and the Principal component repayable p.a. is Rs. 10,000/- and Rs. 40,000/- as Interest.

Query:- Can I be able to claim (solely) the whole of the sum payable as Principal repayment of Rs. 10,000/- U/S 80C and payment of Interest component of Rs. 40,000/- U/S 24(b)...??

Replies (2)

yes .... principle amount can be claimed in 80c and interest part in section 24

 

 

 

Regards

MS Kabra

You can claim interest and Principal based on Your share  in Joint Ownership


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