Me and my father taken Home loan from SBH bank. The property is in my father's name and the loan account is shared between me and my father. I am paying home loan, can you please tell me whether i am entitled for Tax benefit or not.?
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Home loan
Replies (3)
Hi Samyuktha,
if the SBH loan is taken in the joint names and both are paying their respective share of EMI then it is possible to claim deduction respectively.
you can calculate your income tax at www.payit.in developed by www.mimir.in
if the property is in ur father's name.......den ur father can only claim deduction.........
Deduction can be claimed by only that person who is the owner of the house not by any other person even he is paying instalment
Thanks,
Lovenish Bansal
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