23 June 2009
I & my Husband jointly purchase house. we both paid home loan jointly but from induvidual earning. we manage seprate account for the same to pay individually. please guide me what is the bebefit limit in income tax?
Can benefit of limit of interest of Rs 150000/- & principal Rs 100000/- enjoy by both seperately?
23 June 2009
You can enjoy the upper limit seperately.
But Check the repayment status also....if the total amount of repayment through out the year 500000.00. Then you both can take the benefit of 50% in your income tax return.
CAclubindia
