sir, my father and me take home loan joint RS.73 lakhs, both are income tax assessee, every month EMI fully paid me by bank. father has no contribute. now income tax deduction interest and principal, who will claim ?
son or father
or
50: 50?
if loan take jointly the each of loan holders claim deduction from home loan
interest upto 200000 u/s 24 (b) under house property and principle amount upto 150000 u/s 80c
balance amount of interest if more than 200000.
can be claim under section 80e if further condition satisfy ..
CAclubindia
