Home Loan Interest - 2 Lakhs for Husband & Wife?

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  1. Sudhanshu Roy

    Sudhanshu Roy New Member

    Dear Sir / Madam,

    Seek you valued opinion on the following:-

    1. There is a House Property which has been purchased in Joint Name.

    2. The Registration for the property also has been done in the joint name.

    3. The Home loan for the property is also in Joint Name.

    4. I would like to know if the Income Tax Deductions of the principal amount and interest amount of Rs. 2,00,000/- can be claimed by both the joint owners / joint holders of the property and loan account.

    Request guidance from all learned team members.

    Rgds

    Sudhanshu
    [email protected] / 9831256915
     
  2. Neha Sharma

    Neha Sharma Active Member

    Both the husband and wife can claim deduction of Rs. 2 Lakhs each.

    The limit is per person and not per property
     
  3. annapurna swami

    annapurna swami New Member

    Is this means, if interest is 2 lakh 50 thousand, one can claim 2 lakh and other can claim 50 thousand?
     
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