Home loan query

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374 Points Posted on 29 October 2020
Husband and wife are owners of the property and avail bank loan under whose name will they give loan?
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On 29 October 2020 at 19:54 Report
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This discussion clarifies home loan ownership for joint property owners. If both partners earn and file tax returns, the loan can be divided. If only one partner earns and files, the loan is typically in their name, and they can claim the tax credit. The primary loan holder is often considered the first applicant, especially if only one partner is filing returns.

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Accountant
3662 Points Posted on 29 October 2020
Earning partner..........
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On 29 October 2020 at 20:35
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374 Points Posted on 29 October 2020
Both are joint owners
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On 29 October 2020 at 22:16
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Tax consultant
5895 Points Posted on 30 October 2020
If both are filling return then it will be divided among them equally so any one
other wise tecnically the first holder if one is filling return
and if husband is only earning and loan is in his name and wife is not filling return then while filling return husband took the credit
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On 30 October 2020 at 00:38

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