Housing Loan interest

R.Suresh (Sr. Executive) (394 Points)

16 June 2009  

Hi to all,

In my office one of the employee claiming Housing loan interest as a deduction under the head House property.

But the housing loan is taken by joint that means (Husband & Wife) both name loan in bank in this my doubt is

The employee saying that we both are claiming dedcution from housing and we both are elible for Rs 1,50,000/- (each) for a interest on loan

Kindly explain me, this is the first time i am attainding this type of cases.

This loan is taken by both name joint loan.

If possible give me a spacifications & case laws also

Thanks for advance, giving reply.