House property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2012 what are the exemptions available when a husband and wife who have availed housing loan and have equal share in the property and also what if the share is not mentioned in the document. Can the husband and wife in both the cases claim interest of Rs 1,50,000/- each as exemption.
warm regards

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 July 2012 When the share ratio mentioned, you can claim based on the share proportion, if the share ratio not mentioned 50:50 ratio need to apply for claiming the Interest