Deduction under 80C for home loans.

This discussion explores tax deductions under Section 80C for home loans in a specific scenario where a son takes out a loan using his father's property as collateral. The father is a co-borrower due to the property being in his name, but the son is the sole owner. The core question is whether both the father and son can claim deductions for principal and interest payments. The general rule is that only the property owner can claim tax benefits, meaning the father likely cannot claim deductions despite being a co-borrower. However, if the father were a co-owner of an under-construction property, both could potentially claim benefits.