House property interest deduction.

This query is : Resolved

Indra B Singh (Querist)
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23 February 2015 If husband & wife is co-owner in three house property for 50-50 % share.

Whether both are eligible for deduction of Rs. 150000 in his/her return.

Meena Rajesh Jalan

Meena Rajesh Jalan (Expert)
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23 February 2015 YES, TOTAL INTEREST LIMIT IS 150000 IN BOTH OT RETURN.

Rupesh Jain

Rupesh Jain (Expert)
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24 February 2015 the can take one house deduction under he income from house property . and other house deemed income will be added in husband/wife hand as they choose.

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