Housing loan exemption in case of Joint loans

Hi,

In case of joint housing loan taken by husband & wife. What will be the basis of disturibution of interest and principal component between both of them. It should be on the basis of ownership raion or payment ratio???

Replies (2)

If any share mentioned in the flat purchase agreement then that ratio or payment ratio will be preferred. It can also be mutually be decided between you both as you could also show the amount paid by the husband as paid on her behalf as loan to the wife and claim 50:50 interest & principal

According following is the answere: 1. Exemption will be claimed according to the fact & circumstances. For example: Suppose someone added her wife as joint holder only for the purpose of the loan eligibility criterial but the loan amount is paid by the him. Then in this case deduction will be allowed only to the person who is paying the laon amount (irresepective of the fact that loan is taken on joint name) Its all depend upon who is actually paying the laon amount. Cheers...

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details