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Interest paid on housing loan

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Mahabir Prasad Agarwal

Mahabir Prasad Agarwal (Querist)
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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

CA R SEETHARAMAN (Expert)
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29 May 2019 Yes if house is jointly owned based on ownership ratio.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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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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