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Housing loan tax benefit

This query is : Resolved 

25 September 2014 If Mr.x and Mrs. x had borrowed a housing loan of rs.1 crore jointly for construction of self occupied house.if in A.Y.2014-15 they paid Rs.400000/- as a principal amount and Rs.500000/- as a interest respectively 50 % from their accounts then what is the amount eligible for deduction u/s 24 and 80 C for both the persons..?

25 September 2014 if both are borrowers then both shall be allowed under respective itr.

25 September 2014 max Rs 1.5 lakhs each under 80C and Rs 2 lakhs each under 24b


26 September 2014 no, for sop int shall be max 1.5 lakhs for husband n 1.5 lakhs to wife will be allowed.

27 September 2014 Yes for AY 2014-15 it shall be Rs 1.5 lakhs and Rs 2 lakhs from thereafter as per amendments under Finance Act 2014

30 September 2014 Agrred but kiran have specifically asked for AY 14-15



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