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Sop-maximum deduction of interest >150000 ?

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(Querist)
29 June 2013 Hello everyone,

Mr. X and Mrs.X has a residential house property in joint name.

total interest paid in previous year 12-13 is Rs.300000/-

can Mr. X and Mrs. X claim deduction u/s 24b Rs.150000/- each in their income tax return ?

waiting for the views of the experts.
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CA Navin Jain

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CA Navin Jain (Expert)
29 June 2013 YES, THEY HAVE CLAIM THE INTEREST AMOUNT IN THE RATIO OF PROPERTY OWNERSHIP.
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CA Abhishek Singh

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CA Abhishek Singh (Querist)
29 June 2013 but total limit is of Rs.150000/- so in total can they claim rs.300000/-



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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 June 2013 Yes. can claim individually Rs.1.50 lakhs for their share,since house is joint name

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