Can both claim deduction in income tax ?
This query is : Resolved
YELLANKI RATHNAGIRI
(Querist)
25 June 2022
Mr. X and Mrs. Y are husband & wife and they are taxable assessees in income tax
they jointly taken home loan and purchased building
both are applicants in home loan but EMI is deduction from one person only (EMI per annum 4,20,000)
now can both claim deduction in income tax? (home loan interest and prinicipal)
they jointly taken home loan and purchased building
both are applicants in home loan but EMI is deduction from one person only (EMI per annum 4,20,000)
now can both claim deduction in income tax? (home loan interest and prinicipal)
CA R SEETHARAMAN
(Expert)
26 June 2022
Yes, both can claim deduction.
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