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ADVISE ON HOME LOAN TAX BENEFIT

This query is : Resolved 
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(Querist)
25 July 2022 Please advise tax benefit avail both wife and husband Rs. 2 Lac each on Home loan Interest if property purchase Joint name and the property use in self occupied 2.Also advise is it any condition for payment of EMI from both Bank Account or Joint Account?
Dharam Pal
9810600330
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
25 July 2022 1. Yes, both can claim deduction of Rs. 2 lakhs each provided both are co-borrower of loan along with join owner of the property.
2. Not mandatory, but advisable.
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CA PARTH SHAH

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CA PARTH SHAH (Expert)
06 August 2022 Even if the EMI is not given from Joint account, it is advisable to transfer half of the yearly EMI the the coborrower account who is paying the EMI.
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