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Interest on self occupied house

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(Querist)
04 December 2012 Can both Husband and Wife claim interest deduction of Rs.1.50 lakhs each under sec 24 of IT Act which they have taken Joint house loan
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CA. ANKUR JAIN

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CA. ANKUR JAIN (Expert)
04 December 2012 Yes, Deduction u/s 24 is allowed to each assessee....

If there is a joint loan then both can take deduction to the extent of 1.5 Lack each (if self occupied)
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sivadas chettoor

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sivadas chettoor (Expert)
05 December 2012 yes since both are assessable separately on the basis of ownership of the house.



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MOHD AFROZ

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MOHD AFROZ (Expert)
05 December 2012 Yes both of them claim deduction separately Rs.1.5 lac each.

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