My question is I am Individual i have taken House loan So I want to know ( principal and Interest of house loan) for IT Purpose. I can divide loan and property of house.
03 October 2017
Principal amount of repayment of loan is allowed U/S 80 C i.e. maximum amount allowable is Rs.150000/-,along with other deductions.Interest on home loan is allowed U/S 24,subject to Rs.200000/-.
10 October 2017
Mere division of house loan instalment to family member will not serve purpose.The co-borrower must be joint owner of your house property
CAclubindia
