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Income Tax Rebate for Housing Loan

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(Querist)
10 May 2011 If housing loan is in the name of Husband and wife both and both are in working.
Can both avail income tax rebate of housing loan principal and interest? if yes what is the limit. e.g. Principal Rs.62037/- and Interest is Rs.87303/- for Ass. year 2011-12
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
10 May 2011 U BOTH CAN AVAIL OF THE REBATE OF THE AMOUNT FALLING IN YOUR PROPORTION SAY IF LOAN IS IN 50: 50 RATIO THEN REBATE FOR HALF AMT MAY BE CLAIMED

CA MANOJ GUPTA
JODHPUR
09828510543
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