Deductions u/s 24 (b)

Anantamoorti B P (Student CA Final ) (63 Points)

23 February 2013  

Hi, 

   If an assessee & his wife have taken a joint loan for the purchase of a house property (Self Occupied) & if the assessee is the registered owner of the house property can both of them (assessee & his wife) claim deduction U/S 24 (b) for the interest paid by them on the housing loan?  for Eg : Total interest paid is 3.2 lac, can assessee & his wife cliam deduction of 1.5 lac each U/S 24 (b)?

   If you have any case law pls share.