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House loan for joint accounts
can we include house loan to save tax , house is on my father's name and me and my father taking joint account so can I show that to save tax
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Quick Summary
Principal amount of housing loan is covered u/s 80C and
Interest paid to max of Rs 2lakh can be adjusted from income if self occupied
Interest paid to max of Rs 2lakh can be adjusted from income if self occupied
If you are the co owner of the house and EMI is being paid from your bank account then you can take the benefit.
If the EMI is paid by both you and your father then you can take the benefit of that portion of EMI (Interest+Principal) which has been paid from your bank account.
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