- Mr. A is a salary employee and his wife is house wife. And Mr A bought a house in the name of his wife and made a housing loan.
loan EMI is paid by Mr.A
whether Mr.A can eligible to get deduction for intrest and principal paid by him?
Please answer with appropriate Sec and provision.
you both can claim a deduction of up to Rs. 2 lakh for the interest you repay on your home loan. In case the home is solely in your wife's name and she is afirst-time homebuyer, then under Section 80EEE she can claim an additional Rs. 50,000 forthe principal she repays on the housing loan.
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