13 February 2016
Sir, Kindly clarify the following query: Husband and Wife as co owners purchased a residencial house and taken a bank loan jointly and paying jointly. Whether both can claim Interest Rs 2,00,000/- and Principle Payment separately or both together Rs 2,00,000 and principle payment.
13 February 2016
Each co-owner assessee can claim Interest upto Rs 200000/- u/s 24(b) and Deduction U/s 80C in respect to the principal repayment separately.
CAclubindia
