Can both get deduction?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2016
x and y are wife and husband, both are income tax assesses, both are jointly taken home loan, house also registered on x & Y, now both are paying emi equally, they paid interest 8,00,000 and principal 4,50,000
now my doubt
1)both x and y can get home deduction (Home Loan Interest in house property) i.e 200000+200000
or
both are jointly get 200000
and
both x and y can get 80c deduction (Home Loan principal) i.e 150000+150000
or
both are jointly get 150000
now my doubt
1)both x and y can get home deduction (Home Loan Interest in house property) i.e 200000+200000
or
both are jointly get 200000
and
both x and y can get 80c deduction (Home Loan principal) i.e 150000+150000
or
both are jointly get 150000
CA PARAS BAFNA
(Expert)
07 January 2016
X & Y , both will individually and separately get the deductions in respect of interest on loan and repayment of principal. Each of them gets 200000+150000.
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Movement of goods by packers and movers - type of sale - Reg.
- Missed uploading GST Invoice
- Appointment of Auditor By Form ADT-1
- RCM and same line
- ARCA LOGIN
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Closer of business and itc of capital goods
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
