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House property interest deduction.

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(Querist)
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.
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Meena Rajesh Jalan

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

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Rupesh Jain (Expert)
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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