House loan

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shamsheer (Querist)
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25 June 2012 Dear sir,
one of my employee have housing loan, they are paying Principe 200000 & interest 100000, they have joint account, through this joint account they are paying. now how can i take tax benefit for my employee in which ratio. can i take 50-50 or based or house owner ship ratio( joint account taken wife and husband)

regards
shamsheer

Vinod Kumar Mathuria

Vinod Kumar Mathuria (Expert)
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26 June 2012 As per income tax guideline only the co owner property are eligible to take tax benefit, pls. check co owership, if not, you can reap tax benefit provided that the owner will declare the owner as co owner legally by agreement, OVER AND ABOVE THERE MUST BE JOINT LOAN.