23 December 2011
Mr. A and Mrs B (Husband & Wife) have home lone 37,00,000 /- (jointly 50 % Each) during f. y. 2011 - 12 interest Rs. 4,12,000 and principle is 77,037 /- ,this property is occupied for own residence.
what is the tax inpact on Mr. A (income 6,00,000) and Mrs. B (income 5,00,000 /-)I-Tax U/S 80 C and Income from House Property.
Are they take 50 % each of Interest under income from house property and U/S 80 C of Principle amount.&