Housing Loan

[sourabh jain]

We have taken a loan For Purchasing a House

House are Purchased With Both Name , ( With My and My Wife Name )

and we Also take a Loan With both name ( my and my Wife Name )

How Much Can we Claim deduction U/S 24 and in Sec. 80C

and For Which Amount we Can Claim Separately in both .

Thanks and Regards

Sourabh Jain

AI Summary

Claiming Tax Deductions on Joint Housing Loans: Sections 24 & 80C Explained for Spouses with Separate EMI Payments A user inquired about claiming tax deductions under Sections 24 and 80C for a housing loan taken jointly with their spouse. They asked how much each could claim separately. A respondent advised that if EMIs are deducted from separate bank accounts, each party could receive different statements, allowing them to claim deductions individually.