TaxTMI 
TaxTMI 
TaxTMI 
Deduction of loan of Principal and interest amount
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....eduction of loan of Principal and interest amount<br> Query (Issue) Started By: - Suprakas Chaudhuri Dated:- 12-9-2007 Last Reply Date:- 15-9-2007 Income Tax<br>Got 2 Replies<br>Income Tax<br>husband ....
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....and wife, both professionals and income tax assessees, buy flat in joint name by obtaining bank loan also in joint name. A bank account is opened in joint name where money is deposited by each from ti....
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....me to time , not in any particular proportion for payment of EMI. How should deduction of principal repayment/interest calculated for each Reply By NITIKA GARG: The Reply: In case of joint ownership....
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.... both husband and wife can claim tax benefits in respect of the principal and interest payment equally under section 80C. Reply By dayashankar: The Reply: If both husband and wife buy flat in joint n....
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....ame and their is not decleration of the amount of liability of payment of EMI in that case assume that the burden of payment in both is equally and accordingly deduction will be allowed<br> Discussion....
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