Taxabilty of 2 co-owned house properties

Dear Sirs , 

             I wanted to know want will be the Taxability in case there are 2 House Properties

            being jointly Co-owned (50% share each) by Husband & wife.

           Both the House Properties are let-out  on rent at say Rs.200000 each Annually.

           1) How will such rental income be Calculated?

           2) In ITR How should the details be presented , should we mention the Gross Total figures

                         or only the Apportioned Value (50%-50%) 

         Kindly advise

Thanks