02 March 2012
I have a query against a tax investment papers submitted by one of our employee. he has a housing loan against his self occupied property in which his wife is joint partner and the total payout for interest component for 11-12 is 240000/- they both are requesting rebate for 50% each i.e 120000 by husband & 120000 by wife separately. Is it correct to provide the rebate like this, as far we think the total rebate can’t be exceeds 150000 PA means both can claim a maximum of 75000 each for 150000 by single person in a year. Pls help.
CAclubindia
