09 November 2010
Hi i have taken a property in joint ownership with my brother. we applied to SBI and my application was rejected since i have a bad credit history. Subsequently my brother applied to LIC and got the home loan approved in his name. I transfer my share of EMI to my brother's account every month. Recently we got a loan account statement from LIC and it mentions both My brother's as well as my name ( may be because the property is co-owned). the actual loan is on his name only but the lic letter mentions both the names. Can i claim tax exemptions basis this statement of LIC? pls advice
CAclubindia
