Income tax query - do you know..!

Only the person who is the owner of the HP can claim the benefits under I-T for house property.  In your case though you are paying the EMI's, as the house is in the name of your spouse you can't claim the itnerest deduction.

If the Net wealth exceeds Rs 30lacs then WT wud be payable .

u/s 24(b) of Income Tax

 a assesse can clam the deducation only if the house is in his name. if self accupied max. deducation 30,000 other case 1,50,000.

in the above case husband can't get the deducation on newly purchased house of wife, but he can get the deducation on self accupied house for Rs. 30,000.

Can't claim deducation if given on rent, because the rent recived will be the income of Wife. As it is not clubbed he can't claim the deducation...