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)...??
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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