Income from house property

This query is : Resolved

K. Aparna (Querist)
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30 June 2014 Myself & my Spouse co-own(40:60) a property which has been taken on a joint loan(40:60) and that property is let out. Rent is deposited directly to my spouse's bank account and interest on home loan taken is also paid by my spouse directly from his bank account.Both of us are salaried employees.
1.Can i claim 40% of rent received as my income?
2.Can I claim 40% of interest paid as deduction?

Please help me out..

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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30 June 2014 Yes you can claim 40% of interest paid as deduction out of 40% of rental income. Similarly you can also take the benefit of repayment of principal component of home loan to the extent of 40% u/s 80C.

K. Aparna

K. Aparna (Querist)
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01 July 2014 But Mr.Goyal, no income is received in my name as well as no Interest is paid by me.Can I still claim those deductions?

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