I am co owner in the property but not paying EMI. EMI is being deducted from my child account only who is also a co owner. Please let me know that -
1. Am I eligible for tax benefit?
2. Are both me and my child eligible for tax benefit ?
3. Only my child eligible for tax benefit?
Please expedite with reasons.
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House loan tax benefit
Replies (1)
You both can claim the tax benefit provided you both pay the instalments in your proportion.
Condition you both should be co-owner, and co-borrower.
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