Dear Friends,
If the house is in the names of Joint owners for Self Occupaid , whether Each can claim Rs 1,50,000 or Proportionately?
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Income from House Property
Replies (6)
Proportionately!!
both can claim proportionate but each one has limit of 1.5 lacs means total ceiling is 1.5 lacs x2
AGREE WITH MR. U S SHARMA... EACH HAS ALIMIT OF Rs. 1.5 LACS.. BUT CAN CLAIM PROPORTIONATELY...
In case joint owners of two different houses, who has availed housing loan in the joint name both are repaying the housing loan equally. Both are staying in different houses.
Do both of them need to consider the one house as Deemed to be let out and declare Notional Rent while computing the tax liability?
agree with all above ma frnds
Both will have ceiling of rs. 1.5 lakh each and shared proportionately.
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