29 November 2010
I would be thankful if anyone can clarify the following. I have a housing loan jontly with my spouse. The interest on the loan is approx Rs 3.5 Lacs PA. Can we both claim Rs 1.5 Lacs in our return in case house is self occupied? What happens if the house is let out?
U can very well claim interest deduction upto Rs 1.5 lacs P.A.Interest deduction is qua person. So, if ur spouse is also co-owner alongwith u as per agreement of sale, then even she can avail deduction of Rs. 1.5 lacs separately.
CAclubindia
