Query on housing loan

526 views 3 replies

HI,

Please help me out

“A” is having housing loan with his mother & two brothers as co-applicants, the house in the name of “A” ‘s mother

·         If “A” can claim the deduction u/s 80C & 24 b

·         If yes at what proportionate

Please clarify the above quotations

Thanks & regards

Shiva

Replies (3)

 

A can claim deduction under 80C & 24b on the basis of proportion of payment done by A.


It should be on paid basis i.e. If A paid 100% then he can claim full.

Porportion should be decided on payment basis i.e how much paid by you and your mother.

Sir,

Thanks for the information can u please con u please clarify the below query

“A”  brothers can claim diction as his contribution to loan

Thanks & regrdas

Shiva

They can only claim the deduction if they pay their part of EMI .


Say suppose
 EMI is of Rs 100000

and A pays 20000, 2 brothers pay 40000 each

Then they can claim as per the amount paid by them .

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