Can husband and wife work in same project for same team. Is it just frowned upon or there is any policy not to do this in the system

Husband was BRM, Wife in PMO... immediate onsite and has been living for years now... now they are European citizens ... everthing is in 'chalta hain' mode.

Same account but not same team/application.

Either of them should not be supervisor (direct or indirect) of other ... Apart from this there is no restriction on team or project

Conflict of interest clause restricts working in same team. But you can work in same account.

Yes you can work in same project and same team. Me and my wife are from same team ( We met each other in the project itself and married while being on the same project and same team )

Yes you can work in the same project but not in same team. In one my old project there were 2 couples are working in my project.

Yes you both can work in the same project but not in the same team

Yes u can work, there is no such policy that states u can't work together. But ya, at the end it all depends on your project management.