Interest on housing loan

This query is : Resolved

Guest

Guest (Querist)

11 August 2011 If both wife and husband are repaying half-half housing loan, i.e. for six months, by husband and by wife for the remaining period.

In this situation, who will get interest deduction from their house property income:
if house was not let-out and
if house was let-out and husband receiving the rent.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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11 August 2011 if the loan & house property in joint name then both can claim 50% deduction. otherwise the owner of the house property can be claim the deduction