Deduction u/s 24 b

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This discussion explores claiming home loan interest deductions under Section 24(b) for jointly owned property. The user, who took a loan in their name for a jointly owned flat, seeks advice on adding their wife as a co-borrower to share the deduction benefits. It's suggested that adding the wife as a co-borrower, especially if she has taxable income, can make her eligible for the Section 24(b) benefits. The query also touches upon the possibility of carrying forward pre-construction interest.

vinod k arora

vinod k arora (Querist)
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13 July 2020 I own a flat jointly with my wife.
I took a loan from SBI in my single name in 2017.
The possession of house received in Dec 2019.
Interest payable on pre construction period was say Rs. 250000 for FY 2017-18 and Rs. 280000 for FY 2018-19.
Interest for FY 2019-20 was Rs. 265000.

Now I wish that the benefit of deduction u/s 24 b be availed by me as well as my wife who is co owner.
Pl advise can I now get her name as co borrower now and whether in that case we both shall be eligible to the benefit.
If any carry forward for the interest on pre construction period shall be available.

Pl advise suitably on the above matter along with your suggestions.
Thanks.