Hello all Professionals,
Can any one suggests me how can i get Tax benefit by taking Home loan to purchase a House.
Here the query is " myself n my brother taking Home Loan jointly and the EMI will be paid by myself and that will be joint ownership.
So, as per IT act, can i claim total tax benefit of the EMI paid by me or part of EMI only i can claim as tax benefit as the Loan taken as jointly.
pls suggest.
Ownership (on house) ratio basis bifurcation is available ( But the another one not claim on this same)
The co-ownership share plays a role in determining your deductions.
CAclubindia
