House loan
A house property owned by unearned.no professionly qualified wife. House loan has taken based on husband salary. There is no joint account. Is IT will allow to claim interest for the loan under any section? If not what would husband can do claim interst/principal amount
against this loan in his salary? Any valid suggestion would be appriciated?
Replies (1)
So is the property in name of the wife?
The one who paid for the property will be eligible for deduction from tax on account of
Payment of principal component u/s 80C [upto 1.5 Lac]
Payment of interest component u/s 24 [upto 2 Lacs]
Payment of interest component u/s 80EE [IF CRITERIA OF 80EE IS MET] for upto ADDITIONAL 1 Lac (over and above the 2 Lac u/s 24]
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