I am planning to purchased a flat jointly with my wife with 50% ownership each. I will take single loan because my wife is not working and I will pay entire EMI from my salary.
Approximate interest paid per annum will be approximately 3 lac.
Q1. Will I get 2 lac interest deduction from my gross salary or I will get 50% i.e. 1 lac interest deduction?
Q2.Can I show 100% principal in 80c? or it will be 50% of total principal paid?
CAclubindia
