Dear stds,
I have a doubt, whether Interest on Housing Loan can be claimed where the property in Joint Names, if it is possible, what is the ceiling limit? if it is self occupied. can be claimed in both the assessee's Return?
SELVAN.K (PROFESSION) (133 Points)
14 December 2010Dear stds,
I have a doubt, whether Interest on Housing Loan can be claimed where the property in Joint Names, if it is possible, what is the ceiling limit? if it is self occupied. can be claimed in both the assessee's Return?
Lokesh
(CS professional)
(493 Points)
Replied 14 December 2010
Dear Selven, the question is who has taken the loan??
However, the ceiling limit is Rs.150000/- only on the fullfillment of the following conditions-
1) Loan must have taken on or after 1-4-2009. and
2) property must have completed within a period of 3 yrs. i.e it's completion.
CA Sumeet Rathod
(Partner )
(157 Points)
Replied 10 April 2011
Dear Selven, the question is who has taken the loan? and in your case it is mentioned that joint owner are there and if two applicants are there who has taken a loan then both will get the benefit in equal proportion
However, the ceiling limit is Rs.150000/- only on the fulfillment of the following conditions-
A) Loan must have taken on or after 1-4-2009 and
B) Property must have completed within a period of 3 yrs. i.e. its completion.
vignesh
(B-com CS CA-Final CFA-level 1 candidate)
(1053 Points)
Replied 11 April 2011
Dear Selven, the question is who has taken the loan??
However, the ceiling limit is Rs.150000/- only on the fullfillment of the following conditions-
1) Loan must have taken on or after 1-4-2009. and
2) property must have completed within a period of 3 yrs. i.e it's completion
both will get equal benefit...as joint loan is taken.
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