Home loan
home loan taken jointly by husband and his wife. how can they claim deduction of the same against their respective income when repayment is made equally by both of them.
Replies (5)
Both of you can get deduction u/s 24 & 80 c of income tax act, 1961
on the basis of Share In House Property Means On Co Owenership Right. Divide Total Interst Amount ANd Prinicpal Amount On The Basis Of Co Owenership Share And Claim Accrodint To Limit Prescribed Within Section They Both Are Eligible As Seprate individual Limit U/s 24B For Interest And U/s 80C for Principal
Agree with mehul & naresh
Agree with mehul & naresh
intrest and principal amount is divided share ration of house property
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