interest on home loan
This query is : Resolved
PAWAN NARANG
(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?
Regards
Pawan
Regards
Pawan
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.
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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