Home Loan Deductions

Dear Expert,

can an individual taxpayer claim home loan deductions u/s 24 where the property is registered on his name and the loan has taken on his wife's name. Also he has pay all the EMI including principal and interest amount by his account to the lender. on this case, can he is eligible to claim the deductions for both u/s 80C and section 24(b) as per IT rules.
His wife is not an owner or co-owner of the property but she is borrower of the money.

pls advise the deduction is allowed to him or not.


Regards
Pradeep
Replies (1)

As such the owner and borrower of loan is only entitled to claim home loan benefits, but in your case, you can include your name as coborrower of loan as you are only earning person and owner of the HP. The bank will oblige to your request.

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