If a couple has taken house loan on combined salaries then how will they get the deduction from the Income, means is there any ratio of deduction or one can get the deduction and other one can't.
According to sec 26 "First compute IFHP as only one owner is there, and after computation distribute IFHP in the hands of all owners according to their Share in House Property".
There is no separate deduction available, even if loan has been taken by more then one person for the House Property.
08 January 2010
If both the borrowers are paying then? say, the house loan has taken by husband & wife on their salaries then how much deduction they will get from the income.
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