Can both get deduction?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2016 x and y are wife and husband, both are income tax assesses, both are jointly taken home loan, house also registered on x & Y, now both are paying emi equally, they paid interest 8,00,000 and principal 4,50,000

now my doubt
1)both x and y can get home deduction (Home Loan Interest in house property) i.e 200000+200000
or
both are jointly get 200000

and
both x and y can get 80c deduction (Home Loan principal) i.e 150000+150000
or
both are jointly get 150000

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 January 2016 X & Y , both will individually and separately get the deductions in respect of interest on loan and repayment of principal. Each of them gets 200000+150000.

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