Income from house property

Yes you can very well do that.  As your wife is a housewife & she is also a joint owner of the house,  then you can show say about 75% rent in her name & the remaining in your name.  This would reduce your tax burden, because if your show 50% then the additional income would get added to yoru total income & the tax outgo would be more.  Even you can consider the ratio of 80:20.

As per provisional starement of homeloan for FY 2012-13,

Total interest component payable  = Rs 134231

And Only I am ( not My wife) claiming this ( 100%) for income tax rebate.

Total annual rental income from property  = 80000

So i can claim only 134231-80000 =54231 for income tax rebate

I want to know can i share 50-50% of rent income with my wife beause i am in 30% icome tax slab and my wife is 10% income tax slab

Now in this case there is an loss arising from yoru property income, so best way would be you can claim the 100% loss in your assessement, since your wife is not earning so there is no point in her sharing the loss.

If i share annual rental income as 40000 for me and 40000 for my wife. In that case , i can claim

 134231-40000= 94231.

i will get more tax benifit

If your wife is also sharing the rent, then how can you claim the entire interest, your wife will also have to share the  interest. So you can claim interest only of 67k.  that would show less loss against yoru taking the whole rent & claiming the loss on account of interest.

That means there is rule that interest of EMI and rent income are to be shared proportionally between joint holders of the property