Home loan deduction u/s 24

Dear colleagues.
gud evng,
home loan ke interest or principal amount ka deduction lene ke liye Assessee ka uss property ka owner hona compulsory hai kya??
Actually property wife ke name hai
or wife ki koi income nhi hai
or assessee/husband as a co-borrower
EMI pay kr rha hai
toh husband ko deduction milega kya??

regards,
Replies (4)
Quick Summary
This discussion explores whether a husband, acting as a co-borrower and paying EMIs for a home loan on a property registered in his wife's name (who has no income), can claim deductions under Section 24. While Section 24 typically requires ownership for interest deduction, and Section 80C for principal, the consensus suggests that if the husband provides the full funds, he may be considered the 'deemed owner'. In such cases, the income (net of deductions) could potentially be clubbed to his Income Tax Return.

Sec 24 me to interest ka deduction nhi le sakte

lekin principal amount ka deduction sec 80c me liya ja sakta he
Only owner can get the benefit to the extent of % of ownership in the property
Ok sir thanks

If the husband is providing full money, then he's the deemed owner of the property. And all incomes net of deductions will be clubbed to his ITR.

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