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Home loan jointly taken.

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(Querist)
03 March 2014 Is interest paid on joint home loan allow both party u/s 24 or not. if yes ,what is the base of division of interest(means interest allow 50% each or any other base is follow.)
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CA Deven

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CA Deven (Expert)
03 March 2014 If the property is SoP than ceiling of Rs. 1,50,000/- is available to both individually.

In case of LOP it will be divided proportion to there shares in property

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