08 June 2011
my first question is if an assessee taken housing loan in joint name, in that case what limit of deduction under section 24 abount interest on housing loan can be cliam by both assessee.
my second question is payment of principal amount of loan during the pre construction period is can claim for rebate u/s 80C
08 June 2011
1. IF THE PROPERTY IS SELF OCCUPIED THEN INTEREST PAYABLE OR 150000 WHICHEVER IS LESS IS ALLOWABLE 2. NO BECAUSE ONLY SUM PAID DURING THE YEAR IS ALLOWABLE UNDER SECTION 80C
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