Int.on housing loan

This query is : Resolved

DURAI GOVINDAN (Querist)
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06 October 2012 I and wife jointly owns a property and used for self occupation. Interest paid on housing loan is > 400000/- amd emi is paid from my account. My wife is also employed. Whether both of us can claim deduction at Rs.150000/- as loss on house income

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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06 October 2012 For jointly hold housing loan and self occupied property then each joint holder has the limit of Rs.150000 benefit according to the section 24(b). So both you and your wife can claim of Rs.150000 each i.e total claim of interest is Rs.300000.

OM SAI SRI SAI JAI JAI SAI

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