tax deduction in case joint home loan

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  1. rajnish kheveria

    rajnish kheveria New Member

    Name: Rajnish kumar

    Email: [email protected]

    Your message: Dear Sir,

    I m working in PSPCL (state PSU) . I and my wife(also co-owner 50%) took joint home loan in jan 2015, i m primary applicant. i am doing the all repayment of home loan and my wife is house wife (she dose not has any source of income ). can i claim tax deduction on 100% interest amount(Rs.2,00,000) and principal amount(Rs.1,50,000) paid by me.?

    if yes kindly explain in detail along with rules ,because account officer in my department saying i m eligible to claim tax deduction for only 50 % of interest amount as well principal amount ( due to joint home loan).


    Thanking you.

    RAJNISH KUMAR
    Assistant Executive Engr.
    Punjab State Power Corporation Limited
     
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