Q.1 Me and my wife both are working getting HRA, we both are paying 50% of rent each in individual name can we both claim a seprate exemption?
Q2 last year we both have taken loan for const. of house of which 50% of installment paid through my wife and my account can we both claim deduction under house property of Rs. 150000 each and can we both claim repayment of principal amount of loan under section 80C?
Further both of you can claim principal repayment & interest on house loan subject to maximum limit. But these deductions are available only after possession.
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