27 December 2008
I have a query on house property.
There are two assessee X and Y. Both own the property equally. But EMI on loan is paid by X and the benefit was claimed by Y on the Interest and Principal amount in his return of income. But Y haven’t claimed Stamp duty charges and registration fees U/s 80C. Now X who haven’t filed the return can claim such expenses u/s 80C.
27 December 2008
Benefits under Sections 24 and 80-C can be claimed by both individually in their respective assessments to the extent of 50 percent each only.
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