Deduction for Housing Loan interest and Principle
This query is : Resolved
21 March 2009
Myself and my wife, both are working, have applied for a housing loan with LIC. The property will be in joint name. Who can claim deduction under Income Tax Act for the interest and principle repayment of the loan. Please advice.
21 March 2009
if the property is in joint name and the shares are determined and the loan is taken in joint name than both of u can claim deduction in proportion of property held.
21 March 2009
Both of you can claim housing interest deduction as well as repayment of housing loan.
21 March 2009
BOTH OF YOU CAN CLAIM THE DEDUCTION
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