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Housing loan
one housing loan with husband and wife mutually. they paid 200000/- 2014-15 ay. wife also cilime interest under 24 b 150000/- .the Hus can clime balance 50000/- his income tax interest under sec 24 b ?
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deduction of 24b os available in the ratio of amt. paid... if husband-wife paid intt in the ratio of 1:3 then they can claim it that way. but if it was paid in other ratio then deduction will be allowed in that ratio subject to max 150000 each in case of self occupied property.
Deduction will be allowed in ration of ownership of house. If husband & wife has equal share in house, both of them will be allowed exemption of Rs. 1,00,000/- each.
The ratio is wife & hus 3:1 then ?
If the ownership ratio is 3:1 then exemption of Rs.1.50 & 0.50 Lacs will be allowed.
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