Interest paid on housing loan
This query is : Resolved
Mahabir Prasad Agarwal
(Querist)
29 May 2019
A housing loan was taken by me in the joint names of myself and my wife. Total Interest on the same during FY 2018-19 was paid Rs. 2.00 lac. Whether deduction of interest may be claimed by me and my wife both ? If yes, how much by each ?
CA R SEETHARAMAN
(Expert)
29 May 2019
Yes if house is jointly owned based on ownership ratio.
CA Rashmi Gandhi
(Expert)
29 May 2019
Both of you can claim deduction in respect of Interest u/s 24 while calculate your income from house property.
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