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Deduction u/s 24

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2012 IF HOUSING LOAN IS BEEN TAKEN IN JOINT NAME, AND INTEREST PAID FOR A F.Y IS RS. 300000 AND PRINCIPAL PAYMENT OF RS. 200000. CAN BOTH THE ASSESSE CLAIM DEDUCTION U/S 24 FOR RS 150000 & U/S 80c FOR RS. 100000. IF YES THEN WHAT ARE THE PROVISION NEEDS TO BE CONSIDERED.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
21 May 2012 Each joint owner can claim deduction for Rs. 1,50,000 and Rs. 1,00,000 separately.
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