Repayment of House Loan

This query is : Resolved

Himanshu (Querist)
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06 January 2010
Respected Seniors,

If a couple has taken house loan on combined salaries then how will they get the deduction from the Income, means is there any ratio of deduction or one can get the deduction and other one can't.

Please advise.

Regards

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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06 January 2010 Section 26 will help you here.

According to sec 26 "First compute IFHP as only one owner is there, and after computation distribute IFHP in the hands of all owners according to their Share in House Property".

There is no separate deduction available, even if loan has been taken by more then one person for the House Property.

Regards!!!
Dinesh S. Adhikari

Himanshu

Himanshu (Querist)
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06 January 2010 Sir,

I can't understand yet. Please explain as I am not a subject knowing person.

Regards

CA Apurav Agawal

CA Apurav Agawal (Expert)
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06 January 2010 It will be allowed to the person who is paying thge EMI for the loan.

Himanshu

Himanshu (Querist)
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08 January 2010 If both the borrowers are paying then? say, the house loan has taken by husband & wife on their salaries then how much deduction they will get from the income.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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21 July 2025 Got it! Here’s a clear explanation on how house loan repayment deductions work when a couple takes a joint home loan:

Basics:
Income Tax deductions on home loan repayment are allowed under Section 80C (principal repayment) and Section 24(b) (interest payment).

The deduction is available only to the person who actually pays the loan EMIs — whether it’s husband, wife, or both.

If Both Husband and Wife Are Borrowers and Paying EMIs:
Principal Repayment (Section 80C):

Each can claim deduction on the principal portion of the EMI paid by them, up to Rs 1.5 lakh per year individually.

So if husband pays Rs 1 lakh principal and wife pays Rs 50,000 principal, husband claims Rs 1 lakh and wife claims Rs 50,000 separately (subject to overall limit).

Interest Payment (Section 24(b)):

Deduction up to Rs 2 lakh per year per person on interest paid.

Both husband and wife can claim the interest deduction separately based on the actual interest paid by each.

What if the House is in Both Names?
The income from the house property (like rental income) is to be divided according to ownership share.

Deductions related to the property (principal and interest) can also be claimed proportionately based on who pays what.

Important:
The tax department allows deductions only if the person claiming deduction is paying the loan EMIs from their own funds.

The loan agreement showing both as borrowers does not itself entitle both to full deductions unless they are actually paying.

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