Interest on self occupied house
This query is : Resolved
P.S.Satyanarayana
(Querist)
04 December 2012
Can both Husband and Wife claim interest deduction of Rs.1.50 lakhs each under sec 24 of IT Act which they have taken Joint house loan
CA. ANKUR JAIN
(Expert)
04 December 2012
Yes, Deduction u/s 24 is allowed to each assessee....
If there is a joint loan then both can take deduction to the extent of 1.5 Lack each (if self occupied)
If there is a joint loan then both can take deduction to the extent of 1.5 Lack each (if self occupied)
sivadas chettoor
(Expert)
05 December 2012
yes since both are assessable separately on the basis of ownership of the house.
MOHD AFROZ
(Expert)
05 December 2012
Yes both of them claim deduction separately Rs.1.5 lac each.
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