Deduction under 80c

In any case assessee can't claim deduction U/s 80C or 24. Reason being the loan is in the name of wife and form 12C necessarily will be filled with 100% share of wife.

Regarding rent, Income Tax considers the physical usage of property, irrespective of legal title, here in the case such is rented. Here clubbing of income u/s 64 can be applied assuming the 70% amount is a gift from husband to wife and thus 70% of rent should be taxable in the hands of Assessee.

This is my opinion.

i find myself unable to understand.....pls sir...explain 

Answering your second question first- off course the assessee can claim deduction wrt to construction cost, replayment of loan etc. if income is taxable in his hand. Whenever, any income is taxable in anybody's hand, he will get the deduction of reasonable expenditure.

However, the income generated from house property will not be taxable in the hand of assessee. Chapter V is aplicable only when "income is transferred". Further, such transfer of income should be without transfer of assets or in certain cases revocable transfer to assets. Here asset is transferred irrevocably. Thus there is no question of applicability of chapter V.

Thanks to all