Interest on housing loan..

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CA Bhavik (Querist)
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16 March 2011 Mr.K & Mrs. K jointly hold a House property in mumbai which is self occupied by both. Mrs.k is a co owner to the property. She is also the co borrower to a Housing Loan . Interest for that year of Rs. 76,229/- was also paid from their joint A/c.They both file their IT Returns.

Can Mr.k claim the entire amount u/s 24 or should it compulsarily be claimed by both? If it is to be claimed by both, then in what proportion?

Thanks in advance..

Aditya Maheshwari

Aditya Maheshwari (Expert)
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16 March 2011 when everything is jointly then how can interest be calimed by only one person

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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16 March 2011 in case of joint ownership interst should be divided among Mr.K & Mrs. K in their share of ownership.

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