Prabeer (B. COM (H) CA & CS Final) (5484 Points)
27 December 2010Suppose, Me (A) & my brother (B) have taken Housing loan and the Principal component repayable p.a. is Rs. 10,000/- and Rs. 40,000/- as Interest.
Query:- Can I be able to claim (solely) the whole of the sum payable as Principal repayment of Rs. 10,000/- U/S 80C and payment of Interest component of Rs. 40,000/- U/S 24(b)...??
Madhusudan Kabra
(knowledge seeker)
(1779 Points)
Replied 27 December 2010
yes .... principle amount can be claimed in 80c and interest part in section 24
Regards
MS Kabra
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 27 December 2010
You can claim interest and Principal based on Your share in Joint Ownership
CAclubindia
