CLAIMING BENEFIT OF INTEREST ON HOME LOAN UNDER INCOME FROM HOUSE PROPERTY

This query is : Resolved

Teerth (Querist)
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07 December 2021 Hello All,
One of the Tax payer say Mr. X has taken Home Loan from Bank (i.e. Mr. X is Applicant of the Loan). His spouse say Mrs. Y is Co-Applicant for the same Home Loan.
Now at the time of filing Income Tax Return, for the purpose of claiming benefit of Interest on Home Loan under Income from House Property shall be taken under Mr. X (i.e. Applicant) or her wife Mrs. Y (i.e. Co-Applicant) or shall I be able to claim the Interest on Home Loan in equally half under both the Tax Payers?
How does this fundamental works?
Please Guide!!
Thanks in advance for your response....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 December 2021 In case ownership of the house is joint, claim the Interest on Home Loan in equally half under both the Tax Payers.

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CLAIMING BENEFIT OF INTEREST ON HOME LOAN UNDER INCOME FROM HOUSE PROPERTY

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