interest on loan taken for house property

This query is : Resolved

Amarjit Singh (Querist)
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21 July 2009 if the property is registered in the name of husband and a joint loan taken by husband and wife for construction of such house property and both are salaried employee. Total inerest for the year is rs 350000. now they both want to take deduction @150000 each. is it possible?

please help me.

Abhishek Mohta

Abhishek Mohta (Expert)
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22 July 2009 No it is not possible.

The reason being the interest deduction can be claimed only by the owner of the house property. So only husband will get the deduction of interest.