Tax benefit on joint ownership of house property

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Swa (Querist)
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23 January 2013 I have taken housing loan in joint name with my spouse. We have also taken housing long jointly. No specific division of ownership mentioned either in property registration nor in housing loan.

In an year, I alone paid the full EMI from my bank account. Spouse has not made any contribution and not planning to make any claim (though employed)

Can I claim full benefit for interest paid. ? OR I can only claim 50% of it, remaining 50% left unclaimed.

If I cannot, what should I have done. Declare the % of ownership while registering ?

I searched whole of CA Club, but didn't get a clear answer. Please help answering this.

Swa

Swa (Querist)
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23 January 2013 Could someone reply to this. I need this info urgently

Soumitra Basu

Soumitra Basu (Expert)
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25 January 2013 YOU WILL BE ENTITLED TO BENEFIT FOR 50% OF THE TOTAL PAYMENT IN ABSENCE OF ANY SPECIFIC RATIO IN DEED OF CONVEYANCE. IF YOUR SPOUSE AND THE BANK DELETE THE NAME OF YOUR SPOUSE THEN YOU WILL BE ENTITLE TO GET 100% BENEFIT.

Swa

Swa (Querist)
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25 January 2013 Thanks, is it common making such un-equal share of interest while registering the property, say an apartment ?

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