joint home loan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2009 If I & my husband take a joint home loan, will both of us get the benefit of Rs 1,50,000/- towards interest payment independently. That is a total of Rs, 3,00,000 can be claimed, with Rs 1,50,000 in each salary's taxation benefits.or it shall be rs. 75000 for one person. Pl. clarify with a example.Thanks

CA Balram Sharma

CA Balram Sharma (Expert)
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22 December 2009 if you and your husband are co-owner of the property and house property is self occupied for complete 12 month,

than both can take the benefit of rs 150000.

otherwise owner of the property can take the benefit, mean's only one person

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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22 December 2009 .

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Nazir

Nazir (Expert)
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22 December 2009 you can claim Rs 150000 each, provided property and loan should be on your joint name.

Nazir

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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22 December 2009 agree

Manikanta Raju CA,CWA,(CS)

Manikanta Raju CA,CWA,(CS) (Expert)
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23 December 2009 You can cliam the deduction of 1,50,000/- each provided the loan should be taken jointly.
I have dealt one of such case, i concluded like that only

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2009 the query may be closed now. as i m satisfied with the replies.

Thanks