Rebate on Home Loan
This query is : Resolved
25 December 2008
Sir, I have taken a home loan based on my salary. My wife is house wife with no source of income. Entire loan EMI is paid by me but my wife is coapplicant in my home loan. The house i purchased is in the name of my wife.
Will I be eligible for Tax rebate on interest paid by me?
Will I be eligible for Tax rebate on interest paid by me?
25 December 2008
YES AS YOU ARE PAYING THE INSTALLMENTS & AS YOU SAID YOUR WIFE IS CO APPLICANT SO YOU ARE ALSO A PARTY TO THE APPLICATION AS A BORROWER. GO AHEAD CLAIMING THE DEDUCTION
CHANDRAKANT AMBANI
BOMBAY
9819408963 / 9821240674
CHANDRAKANT AMBANI
BOMBAY
9819408963 / 9821240674
25 December 2008
But the house is registered in the name of my wife? Is it not necessary that the property should be in my name to claim the tax benifit?
25 December 2008
Yes you are eligible. See my detailed answer under your repeated query.
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