Home loan

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manojkumargupta (Querist)
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08 March 2013 Sir
i want to purchase home ready to live by taking loan in my city.
I want to get home registered in my wife name out of love.
Is this ok.
Will i get income tax rebate as per income tax laws for interest and principle .
Please help.
My wife is home maker.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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08 March 2013 If the bank accepted to give loan on the name of you only then you can avail the income tax exemption benefits for the interest and principle of the loan.

In case bank given loan on the join name of you and your wife then you avail exemption upto 50%.

OM SAI SRI SAI JAI JAI SAI

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