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Sec 24 of IT act 1961

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13 August 2008 suppose i jointly own a piece of land with my friend n i tak a loan on my name for constructing a building to be used for commercial purposes.In dis case can my frien also claim 50% of the interest paid on the loan??
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CA Naveen Kumar Agrawal

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CA Naveen Kumar Agrawal (Expert)
14 August 2008 No he cant. As loan has been taken on ur name. u can claim the interest for ur part.

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