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Income tax deduction for construction of house
A couple (husband and wife) co-jointly own a piece of land. Both husband and wife are constructing a house on the piece of land. Both husband and wife are paying for the construction of the house on the piece of land.
Husband is a consultant and a retd. govt. official and the wife is a house wife. Both of them are income tax payees.
Can the husband and wife claim income tax deductions under the Income Tax Act, 1961? If yes, under what sections?
Replies (2)
Have you taken any loan to construct the house, if no there there is no section.
For claiming deduction under Income tax act home loan is must.
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