Home loan exemption

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17 Points Posted on 27 February 2020
loan has been sanction in the name of wife(who is housewife) can husband claim home loan interest and principal?
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On 27 February 2020 at 13:54 Report
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This discussion clarifies home loan tax exemptions. If a loan is sanctioned solely in a wife's name, and she is a homemaker, the husband generally cannot claim deductions for interest or principal. To claim deductions, the husband must be listed as a co-borrower on the loan, allowing him to claim a proportionate share of the benefits.

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"Do the Right Thing...!!!"
128162 Points Posted on 27 February 2020
No...
Property owner can be claim such deductions if loan in the name of Owner...
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On 27 February 2020 at 15:19
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Chartered Accountant
321 Points Posted on 27 February 2020
Husband should be added as a co-borrower in which case he can claim the proportionate deduction. Else not possible.
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On 27 February 2020 at 16:11

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