Interest on borrowed capital under house property


chartered accountant

my clients(Both wife & husband) taken a housing loan and  paid Rs.542565/- as interest in F.Y.2014-15. how to considered it in I.T.Return. 

 
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Both of them can claim u/s 24, the interest paid proprotionate to their share in the property, provided both are co-owners to it. If such property is self occupied then max limit of deduction in each case is Rs.2 lacs (that means max Rs.4 lacs for SOP). For let out property, no such limit.


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Tax Advocate

agree with poonam ji

 
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