Joint Housing loan- intrest-1.5 Lac Individual or total?

Me and my wife are salaried employees. We have a joint housing loan for which the interest component is 2.8 Lac PA. Can we share this as 1.5 Lac and 1.3 Lac respectively or the limit is 1.5 Lac for one loan?

asked Mar 26 '12 at 14:09 by Nitirame195 1111

In case loan EMI payments have been done equally divided between both of you, then each can claim tax benefit of Rs 1.4 lakh.

1.5 lakh limit on home loan interest deduction is per head and not on a loan/property.

answered Mar 27 '12 at 15:36 by Pankaj Batra 5.2k320


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Asked: Mar 26 '12 at 14:09

Seen: 2,100 times

Last updated: Mar 27 '12 at 15:36