Income tax
Querist : Anonymous
This is kiran kumar(ICMA),I have purchased a Flat in the month of June-2013 cost of Rs 3727500/- and registration charges is Rs 60000/- .I have took loan from LICHFL amount of Rs 2982000/- with interest rate of 10% on my wife and my name.In this case my wife is a first applicant and my self is co-applicant.we are going to avail the interest on self occupied house property as per income tax Act.Kindly let me know the how much amount can avail my wife and my self.We are paying Rs 25000/- as a monthly interst.
Thanking you
G kiran kumar
if the house is joint name, you and your wife can claim Rs 150000 each.
please check for 80EE deduction also.
Querist : Anonymous
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