Income from House Property??

Dear Sanjay,

As far as the hosue property is concerned only the share of the loan amount and interest will be taken to B's account. If he cliams the entire amount the same may be striken the AO.

regards

B can claim only his Share 

yes, B can claim only his share

Originally posted by : kanagaraj
	Dear Sanjay, As far as the hosue property is concerned only the share of the loan amount and interest will be taken to B's account. If he cliams the entire amount the same may be striken the AO. regards

Agreed........

But Sir,

Even if B is paying full amount of installment (i.e. A's part also) and the loan amount sanctioned by bank does not specify the A's and B's portion of loan.. Can't B take the exemptiom of full repayment of loan and interest??

And if not, Can A take the benefit of exepmtion u/s 80C and interest deduction while calculating income from House property even if he has not paid a single paisa against such loan?

I am also here specifying the relationship between A & B.. is Father & Son.

Please reply!!! 

Yes B can take exemption of full amount till the limit under specific sections.

since loan was fully paid by B. he can claim full  deduction of principle amount u/s 80C...if there is any wrong please clarify

Can b also take the deduction of Interest paid against loan repayment??

 Yes for both principal and interest amount.