Hi
I need some information on income tax.
I have recently purchased a property along with my brother, and I have started paying the EMI from this month for the same property. Although both my brother and I are joint owners and have jointly taken the housing loan- I am paying the EMI (Principal and Interest) by myself and the house is let out for rent.
Since the house is now let out for rent, my company HR/accounts department says I am not eligible for benefit of interest paid against the housing loan.
Can you please clarify?
Thank you very much.
