Deduction of 80C

This query is : Resolved 

12 November 2009 Pls help. I have a query regarding deduction allowed for repayment of principal amount of housing Loan.
If house is in name of Mrs. X and loan is taken in the joint name of Mr. & Mrs. X.
Than who is eligible to claim deduction u/s-24 and u/s 80C?????

12 November 2009 Only Mrs. X. as to claim the deduction for both principan and interest, you must be the owner of the property and obviously be the borrower also ( may be co owner or co borrower)

12 November 2009 Sir can u pls suport the above statment with section.
thnx for ur reply.


12 November 2009 as per sec. 24(b) & 80C, deduction for repayment of housing loan is allowed only to legal owner of the property.

As in your case Mrs. X has legal ownership then only Mrs. X can claim the deduction part.

12 November 2009 Thnx Sir.



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