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Please tell me what is the tax treatment of housing loan taken on joint property which is given on rent & instalments are paid by one person only. Also treatment of rent income when shares of joint owners are not ascertainable. |
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hello |
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I THINK THE PERSON WHO IS MAKING PAYMENT ONLY HE WILL GET BENEFIT OF INTEREST AND PRINCIPLE AMOUNT U/S 80C.
IF SHARE OF JOINT OWNERS ARE NOT ASCERTAIN THEN RENT INCOME WILL BE DEVIDE IN EQUAL BASIS I.E. ON 1:1.
RECTIFY ME IF I AM WRONG |
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I am totally agree with mr. Sidharth |
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i m also agree with mr. siddharth |
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Please examine whether deduction u/s 80C is admissible for installments of loan repaid for let out buildings.
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