30 May 2009
I've taken a loan jointly with my wife to buy a house property. Basically the loan is sanctioned on my salary and repaying capacity only. EMI is Rs. 19,000/- Whereas my wife salary is Rs.13500/- only I've registered the house property in my wife's name only. In this circumstance whether i can claim Interest on salary u/s 24 and deduction u/s 80C for the principal portion paid from my salary income Please clarify
CAclubindia
