House property partly rented in a financial year

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Sanjay (Querist)
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02 January 2012 I've a query on Income Tax - House Property partly rented in a financial year.
For FY 10-11, the House Property was rented out to 2 different tenants…
APR10: 1 month: Tenant 1: Rent 20K (agreement available)
MAY10 to NOV10: 7 months: tenant 2: Rent 11K (rented out to a friend, no agreement, fair market rent: 12 to 15K range)
DEC10 to MAR11: 4 months: Self occupied
-Municipal House Tax for FY10-11: 5K
-Interest component on Housing loan for FY10-11: 3.5Lacs
-Property is jointly owned with Spouse (ownership %age share not declared)
-Income of spouse for FY10-11 is nil
Q1) Since spouse had zero income in FY hence no contribution in loan repayment, can the main applicant consider entire interest component in Tax calculations? (for previous years it was taken 50:50 as spouse had a job)
Q2) How to compute the net income from House Property for FY10-11 for above scenario?

Best Regards,
Sanjay

Sanjay

Sanjay (Querist)
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03 January 2012 Would appreciate some expert opinion on above.
thanks.

Sanjay

Sanjay (Querist)
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04 January 2012 I'm looking for leads on Bangalore based consultancy services available on above topic.
thanks.