Home loan for tax benifit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2010
Hi ,
I am co-borrower(not co-owner) of home loan.Can I use the EMI for tax benefit if the other co-borrower is not using at all.
what to do if its only possible for co-owner of the house?
I am co-borrower(not co-owner) of home loan.Can I use the EMI for tax benefit if the other co-borrower is not using at all.
what to do if its only possible for co-owner of the house?
CA.Amit Revankar
(Expert)
10 August 2010
No, Only owner,s are allowed the benefit of interest on borrowed capital.
Be the joint owner of property
Be the joint owner of property
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