Exemption for home loan
This query is : Resolved
Srimannarayana
(Querist)
08 June 2016
Dear Sir
Wife and Husband has taken Home loan for Two Houses on Joint Account Principal and Interest are as follows.
House1 House - 2
Interest - 204539 189484
Principal - 58069 37076
How much we will give exemption for Interest and Principal
Wife and Husband has taken Home loan for Two Houses on Joint Account Principal and Interest are as follows.
House1 House - 2
Interest - 204539 189484
Principal - 58069 37076
How much we will give exemption for Interest and Principal
CA SUNIL K GARG
(Expert)
08 June 2016
Exemption will depend upon share of ownership in property. If both houses is co-owned by husband and wife, interest and principal will be divided on that ratio.
Srimannarayana
(Querist)
08 June 2016
for both houses we have divided
CA SUNIL K GARG
(Expert)
08 June 2016
For both houses, claim deduction of interest and principal on respective ITR.
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