Repayment of House Loan
This query is : Open
06 January 2010
Respected Seniors,
If a couple has taken house loan on combined salaries then how will they get the deduction from the Income, means is there any ratio of deduction or one can get the deduction and other one can't.
Please advise.
Regards
Respected Seniors,
If a couple has taken house loan on combined salaries then how will they get the deduction from the Income, means is there any ratio of deduction or one can get the deduction and other one can't.
Please advise.
Regards
06 January 2010
Section 26 will help you here.
According to sec 26 "First compute IFHP as only one owner is there, and after computation distribute IFHP in the hands of all owners according to their Share in House Property".
There is no separate deduction available, even if loan has been taken by more then one person for the House Property.
Regards!!!
Dinesh S. Adhikari
According to sec 26 "First compute IFHP as only one owner is there, and after computation distribute IFHP in the hands of all owners according to their Share in House Property".
There is no separate deduction available, even if loan has been taken by more then one person for the House Property.
Regards!!!
Dinesh S. Adhikari
06 January 2010
Sir,
I can't understand yet. Please explain as I am not a subject knowing person.
Regards
I can't understand yet. Please explain as I am not a subject knowing person.
Regards
06 January 2010
It will be allowed to the person who is paying thge EMI for the loan.
08 January 2010
If both the borrowers are paying then? say, the house loan has taken by husband & wife on their salaries then how much deduction they will get from the income.
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