In order to claim tax benefit of joint home loan , a person is also required to be joint owner of the property .
Eg- parent and child together take up a loan which is paid off by both of them. In such a case ,where child is not the co-owner is devoid of the tax benefits on the joint home loan
Need the reference of the above statement ,in which section it is written or any rule or notification?
Sec. 24 states Deductions from income from house property.
The section applies only to the assesses who are owners of house property, be it fully owner or joint owner.
The section is not applicable to any person not owner/co-owner of any HP.
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