Exemption of housing loan
This query is : Resolved
29 September 2011
A plot has been purchsed in Joint name of Husband & wife with eqaul share and they taken a housing loan from bank in joint name to build a residential house on this plot. Now the house is completed and EMI's are being paid by Hunsband Only. Both husband & wife are seperate businesses and taxable incomes. Now can Both claims exemption under 80C of principle repayment and also expemption of Interest part when all EMI,s are paid thru saving a/c of husband only. Can any expert throw light on this matter with with some clarifications.
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