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interest on home loan

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(Querist)
06 May 2010 Please tell me who can claim for interest paid on joint home loan taken in the name of husband & wife.can it be claimed by first named person or both? if it is claimed by both what will be propotion?


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Pawan
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Rahul Gupta

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Rahul Gupta (Expert)
06 May 2010 In case, the home is in the name of both the persons, then deduction for it can be claimed by both in proportion to the amount paid by each person.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
06 May 2010 Yes, they can claim both interest in proportion. Limit of interest will be seprate i.e it is the case of co-ownership.
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