In case of housing loan taken in a joint name, limit of Rs. 150000/- toward interest u/s.24 will be applicable jointly to both or both will be eligible for deduction of Rs. 150000/- seperately???
28 January 2010
Int paid @ 150000/- can be claimed separately U/S 24 by both , if the property is registered under joint name, loan is in joint name & EMI also paid jointly .
29 January 2010
It's the beauty of this section. Rs.1.5Lacs deduction can be claimed by each of the joint owners subject to the fact that property & loan are in joint name & EMI is also paid jointly
CAclubindia
