Sop-maximum deduction of interest >150000 ?
This query is : Resolved
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.
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.
29 June 2013
YES, THEY HAVE CLAIM THE INTEREST AMOUNT IN THE RATIO OF PROPERTY OWNERSHIP.
Message likes :
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29 June 2013
but total limit is of Rs.150000/- so in total can they claim rs.300000/-
29 June 2013
Yes. can claim individually Rs.1.50 lakhs for their share,since house is joint name
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