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Deduction of house loan interest
If a house is purchased by two persons ,co pwnership and loan also taken on both name.then house loan interest and house loan deduction will be given to both.
Replies (4)
Quick Summary
I think only to wife, deduction is available as I rememeber answering it many months ago.
Things are different now 'Since the property is jointly owned by you (the husband) and your wife, both of you are entitled to claim the benefit of interest under Section 24 as well as in respect of repayment of principal amount of home loan under Section 80C provided both are servicing the home loan.'
In proportion to the ownership
Yes, kindly check the provisional certificate before claiming any deduction on interest and principal amount on housing loan.
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