Deduction u/s 24 without house property income

Interest on house property can be shown as a loss under the head income from house property.

This loss can be set off against salary income. It can also be deducted while calculating TDS on salary by employer.

Yes, interest upto 200000 (for A.Y. 2016-17) can be shown under house property head and deducted from salary to calculate TDS.

Consider the following case-

Interest on House property- Rs.4,25,000/-

(Joint loan in name of husband & wife )

Husband let out the property & shows income from houeproperty & claimed Rs.2 lacs u/s 24.

(Entire income shown by husband)

Wife who have salary income,can she claim balance of Rs.4.25 lacs,2lacs u/s 24 as house property loss  for salary tds.

Interest on house property will be allowed as deduction u/s 24 to the assessee, who actually bears the interest cost and from whose account interest is paid.

If both pay since it is a joint a/c loan,can both husband and wife claim sec.24 interest-But only husband has income from property (Entire income of house property in which loan taken is shown as income of husband.

Irrespective of where rent income is shown, both can take interest as a deduction. Amount of deduction will be the actual amount of interest paid by each assessee.