Interest on home loan limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2016
i want to know, if husband and wife taken home loan around 75 Lacs, and both paid EMI by their saving account and also both are the owner of the self occupied property. what is the limit of home loan interest, in tax exemption by each ??
Rupesh Jain
(Expert)
05 March 2016
if home is joint name and share of house is defind then both take deduction of intt u/s 24(b) rs. 200000/-
and principle amount upto rs. 150000/- u/s 80c
and principle amount upto rs. 150000/- u/s 80c
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