one of my client is medical officer, he has obtained housing loan from the bank. the housing loan status is a joint loan account. my client and his mother in law(wife's mother). his mother in law is housewife and seniour citizen. now my query is my client can claim full interest deductions u/s 24 and principal amount u/s 80c.
15 March 2015
Housing loan deduction based on the ownership of the house, first house should be owned or jointly owned by the assessee, if such case loan deduction also claimed even loan as joint name.
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