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HOUSING LOAN DEDUCTION U/S 24(B) IN CASE OF JOINT OWNERS

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(Querist)
24 March 2021 Hello

Total Interest on Housing Loan is more than 400000/- & the EMI are being only paid from Father Account. Can Son (Co-Owner) claim deduction u/s 24b of Rs. 200000.?

Father is already claiming his part of deduction of Rs. 200000.
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Ganeshbabu K

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Ganeshbabu K (Expert)
24 March 2021 1)Son can claim interest deduction 24(b)
2)Principle deduction possible only if payment is done from son account
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Gokul Sharma

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Gokul Sharma (Expert)
24 March 2021 CAN SON TAKE 80C DEDUCTION OF PRICIPLE PART IF PAID BY HIM. AND HE IS OWNER OF THE HOUSE .
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Ganeshbabu K

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Ganeshbabu K (Expert)
24 March 2021 Yes, son can claim 80C FOR PART PAID BY HIM

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