Nirav (Accountant) (595 Points)
27 December 2010Hello,
My Dad purchased a House Property in the name of himself and my Mom (jointly).
Housing Loan is taken in the joint name of my Dad and Mom.
Interest and Instalment is paid completely by my Dad.
deduction of Interest available to my Dad should be completely (100%)or partially(50%) as loan is in the joint name??
Can my Mom claim the deduction though she dun pays any interest or instalment??
CA Abhash Mishra
(Chartered Accountants)
(598 Points)
Replied 27 December 2010
All the deduction should be taken by your dad because he is making all the payment. If your mother also make payment than only she can avail credit of interest etc..........
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