Hi,
If an assessee & his wife have taken a joint loan for the purchase of a house property (Self Occupied) & if the assessee is the registered owner of the house property can both of them (assessee & his wife) claim deduction U/S 24 (b) for the interest paid by them on the housing loan? for Eg : Total interest paid is 3.2 lac, can assessee & his wife cliam deduction of 1.5 lac each U/S 24 (b)?
If you have any case law pls share.
yes they can,
provided that necessay condition satisfied
@ Anantamoorti B P
for claiming deduction U/S 24 assessee should be the owner of the house whether co owner or otherwise
So if they take joint loan , this will not gonna help them
Instead they can take house in their joint names then they both can get deduction under their respective heads of income
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