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Deduction for interest and pricipal repayment on home loan

Income Tax - Started By: - Bijay Shrestha - Dated:- 26-11-2016 Last Replied Date:- 29-11-2016 - Dear Friends, Three co-owners (also co-applicants) took home loan (share of each co-owner may or may not be there) but entire EMI was paid only by one Co- .....

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duction or only to the extent of his share? 3. What happens in above situations if EMI is paid from Joint accounts but funded by only One Co-owner?Please suggest. (Plain reading of Section 24 says that deduction shall be allowed for interest payable .....

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