Income from house property

Umang (Chartered Accountant) (71 Points)

25 September 2014  

MR. A OWN PLOT OF LAND FOR RESIDENTIAL PURPOSE.

NOW HE WANTS TO CONSTURCT HOUSE ON THAT PLOT OF LAND.

HE WANTS TO TAKE LOAN FROM BANK BY MORTGAGING PLOT OF LOAND.

LOAN WILL BE SENCTION IN THE NAME OF MR. A AND MRS. A.

INTEREST ON LOAN OF SELF OCCUPIED PROPERTY WILL BE ALLOWED IN HANDS OF BOTH MR.A AND MRS. A ?

RS. 2,00,000  EACH FOR MR.A AND MRS. A FROM F.Y.14-15. 

KINDLY GUIDE.