Deduction u/s 24 as to Interest on housing Loan

CA Sanjay Baheti (PROPRIETOR) (1155 Points)

26 February 2010  

I am having two Clients being Individuals. Both are Husband & Wife. Husband is Private Employee and Wife is Govt.Employee(i.e.Doctor). They owned Two  resediential Houses. One is  in Wife's name & another is in Joint Name of Both Husband & wife. Moreover One is Self occupied & another is deemed to let out but the same is vacant through out the Year. also both houses are financed by the banks/Financials Institutions. So far joint ownership of another house is concerned there is no specific proportion for joint owners,but the  first name comes in the name of Husband.

Now My query is whether interest on housing loan u/s 24 can be claimed for the another House which is  under joint names entirely  either by Husband or Wife or equally both of them even though no specific proportion is intimated to the Loan Financier.Futher How much maximum Interest  to be claimed. 


Ca Sanjay Baheti