Easy Office
LCI Learning

deduction on housing loan

This query is : Resolved 

16 July 2009 I have taken 2 housing loan both jointly with my 2 brothers.one for purchase of house and one for rennovation of the same house. total amount of loan is Rs. 35 lacs. repayment of principal during the last financial year is 20406/- and intt. amount is 413118/-. 1st name in the loan agreement is of my brother. I want to know the deduction which i can avail during the file of I.Tax Return.

16 July 2009 if the loan/property is on joint name then every joint holder can avail the deduction as per there share.

80C - Repayment of Principal
Interest - Loss under the head House Property. (upto 150,000 per holder)


16 July 2009 Agreed with tilak


16 July 2009 Your question is not very clear, please tell dear who is making the loan repayment......



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries