MURALIDOSS (INCOME TAX PRACTITIONER) (1329 Points)
26 December 2019SIR,
A PROPERTY WAS PURCHASED BY THREE BROTHERS JOINTLY, AND IT WAS ALSO MORTGAGED WITH BANK FOR HOUSING LOAN, NOW THE BANK DEDUCT THE EMI FROM A SINGLE BROTHER'S ACCOUNT, WHEN CALCULATING HBA INTEREST AND PRINCIPAL , IT MUST BE DIVIDED BY 3 OF THEM RIGHT?
Chand Basha
(128 Points)
Replied 26 December 2019
CMA M.Keerthi chandra
(C.A FINAL STUDENT AND QUALIFIED C.M.A)
(561 Points)
Replied 26 December 2019
overall computation depends up on ownership of the property are they co-owners of property? and are they sharing the Income from House property as per share determined if any
harish prajapati
(97 Points)
Replied 26 December 2019
CAclubindia
