co owner and interest on homeloan

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  1. annapurna swami

    annapurna swami New Member

    I have a home, It's on a joint name of me and my husband. Also home loan is taken on joint name of me and my husband. Interest deducts directly from my salary account. Our annual home interest is around 2 lakh 50 thousand. Can i claim 2 lakh and my husband 50 thousand under section 24?
    total interest amount deducts from my salary account,still is my husband eligible to claim interest?
     
  2. Amith S

    Amith S New Member

    Both of you can claim deduction based on the ratio of ownership. If both of you hold equal shares then 50% can be claim by individual person.
     
  3. annapurna swami

    annapurna swami New Member

    where to define this ratio? i haven't seen it anywhere?
     
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