7 Habits, Tax Planners should Practice

By siliconindia  |  Tuesday, January 31, 2012

Joint Loans Can be Doubly Beneficial
Joint Loans Can be Doubly Beneficial While taking up a joint home loan; people make a mistake as they assume that deductions are available collectively and not individually, but this concept is incorrect. The joint owner or the co-borrower both can claim for deduction in interest up to 1.5 lakh on such loans. Likewise, the co-owner can also claim the deduction with respect to principal repayment.
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