Home Loan Benefit

If a property is owned by jointly. Can both the owners claim benefit for the amounts (that each has paid) under Section 80C and Section 24?

asked Mar 19 '13 at 12:04 by vikram172 115


Both joint owners can claim 80C and section 24 tax benefit independently. But they can only claim upto extent in which they shared the principal and interest EMI in loan.

If total interest is 2 lakh and both paid equally in same, they can claim 1 lakh each u/s 24. Similarly with principal payment.

answered Mar 19 '13 at 16:00 by Pankaj Batra 5.2k320

link

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×94
×54
×37
×30
×15

Asked: Mar 19 '13 at 12:04

Seen: 1,686 times

Last updated: Mar 19 '13 at 16:00