Housing Loan Interest

Dear Friends.

Mr.A and his wife Mrs.B jointly takes a housing Loan

Now my question is

Can Mr.A claim the entire housing loan interest paid by them for Income Tax deduction 

Thanks In Advance

BINUMS

Replies (3)

yes he can claim only that amount of deduction which he has paid
 

so if you pay whole you get full deduction or vice versa

But the next question is if the loan statement received from the bank says the the loan is in the name of both the parties.(Mr.A and Mrs.B in this case)

Then any problem will arise for Mr.A for claiming the entire amount of interest in his name

 

 Deduction of interest will be available to both Mr. A and his wife.

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