Housing Loan
This query is : Resolved
12 July 2011
Husband & Wife take Loan Jointly
if their Interest is Rs. 1,00,000/- and principal is Rs. 80,000/-
should they take benefit for Rs. 1,00,000/- each in their separate Income Tax Return
OR
Rs. 50,000/- (1/2 share) in their separate Income Tax Return
same in case of Principal Amount.?
if their Interest is Rs. 1,00,000/- and principal is Rs. 80,000/-
should they take benefit for Rs. 1,00,000/- each in their separate Income Tax Return
OR
Rs. 50,000/- (1/2 share) in their separate Income Tax Return
same in case of Principal Amount.?
12 July 2011
Rs. 50,000/- (1/2 share) in their separate Income Tax Return
same in case of Principal Amount
same in case of Principal Amount
Message likes :
1 times
CMA Ramesh Krishnan
(Expert)
06 August 2011
yes. Interest please refer section 24(b) & Principal amount you can refer section 80C of the Income tax act
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