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Deduction u/s80c

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 February 2012 Hello....my query is that i have bought a flat for which i have taken home loan in which myself 1st borrower and my mother is coapplicant..and installment is being paid by me....the flat is registered in my mother's name.my query is that who can claim deduction u/s 24b and u/s 80C of income tax act.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
11 February 2012 Since flat owner & loan joint applicant both conditions satisfied your mother, she is eligible for claim the interest u/s.24 & 80C
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 February 2012 Yourself and your mother,both, will loose the benefit of section 24(b) and 80C of the Income tax Act,1961.
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 February 2012 Sir B.Chackrapani, why we both will loose the benifit of 24(b)and 80C benifit.

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