Deduction of Housing Loan Interest & Principal
This query is : Open
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19 July 2022
Sir/Madam
Please resove below doubt for taking deduction of Housing Loan -Interest & Principal for the fy-2021-22--
> One of my client have taken housing loan in joint account with his wife - proportion is 50 % each
In last year he was taken deduction of housing loan interest & principal 50 % individually.
In this current year can his wife taken 100 % housing loan interest and principal from her total taxable income?? because his spouce income is not taxable income and tax payable??
Installment is paid from saving bank account- jointly holder
thanks in advance
Please resove below doubt for taking deduction of Housing Loan -Interest & Principal for the fy-2021-22--
> One of my client have taken housing loan in joint account with his wife - proportion is 50 % each
In last year he was taken deduction of housing loan interest & principal 50 % individually.
In this current year can his wife taken 100 % housing loan interest and principal from her total taxable income?? because his spouce income is not taxable income and tax payable??
Installment is paid from saving bank account- jointly holder
thanks in advance
CA R SEETHARAMAN
(Expert)
20 July 2022
That's not allowed.,..............
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