My husband and myself have bought a house in joint names. Now we plan to take the interest benefit since it is a SOP.
I have read in so many articles that in such cases each co-owner can claim individually 1.5 lac interest benefit on home loan.
Thus, the total benefit available to both of us would be 3 lac. Can anyone please help me with any circular / official communication from IT Dept on this matter?
Regards
u can refer to section 24(b) of it act.
Referred it, but no mention about individual benefit of interest.
It is not mentioned any where just it is general practice !! so claim 1.5L for both joint owners.
But my HR Dept does not allow... They say they have always been allowing 1.5 lac in totality for one property... depending upon proportion of ownership.
CAclubindia
