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Home loan and tax banifit

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30 April 2013 can i take home loan on father property.claim tax exemption
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CA Ravi Kumar Murugesh

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CA Ravi Kumar Murugesh (Expert)
30 April 2013 If house property is on your father name, you can take house loan but you can not claim tax exemption. You can apply for house loan by showing your proof of income and your father as a coapplicant. I hope this loan is for renovation, repair purpose of your existing father house.
In case your query is about to buy your father property, yes, you can buy your father property by taking house loan from bank and nevertheless, you are eligible for tax exemption.
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