Interest on House property
This query is : Resolved
CA Vijay V Kodmur
(Querist)
22 December 2008
A Jointly owned Property(Flat Self Occupied)by Husband & Wife both having salary Income, on that flat Interest has been paid to bank Rs.450000/-.
Wheather both can Claim Interest deduction U/s 24 Loss from House property Rs.150000/- Individually in their Respective Return or deduction is restricted to Rs 150000 Individually Claiming Rs.75000 each.
Housing Loan is in the name of both husband & wife
Wheather both can Claim Interest deduction U/s 24 Loss from House property Rs.150000/- Individually in their Respective Return or deduction is restricted to Rs 150000 Individually Claiming Rs.75000 each.
Housing Loan is in the name of both husband & wife
CA Tilak Raj Sharma
(Expert)
22 December 2008
Both can claim 150000 each.
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