Exemption for home loan

This query is : Resolved

Srimannarayana (Querist)
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08 June 2016 Dear Sir
One of my Employee has produced Home loan exemption certificate from Bank(Principal and Interest) but the account holder is her Husband. It is not joint account can I give the exemption to her in this case?

Rupesh Jain

Rupesh Jain (Expert)
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08 June 2016 pls check the house owner and loan repayment by whom. both will be same then you can give the exemption/deduction of housing loan otherwise not possible,

Srimannarayana

Srimannarayana (Querist)
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08 June 2016 On home loan account name on Husband(Owner) name and paying by wife

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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08 June 2016 For claiming home loan benefits of principal and interest the wife must be the co-owner and co-borrower. From your facts it seems that husband is owner and loan is also in the name of husband than wife cannot claim benefits of repayment since she is neither co-owner nor co-borrower.

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CA.Karan Dawar

CA.Karan Dawar (Expert)
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09 June 2016 agree with CS Abhishek Goyal
She cannot claim benefits

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