Housing loan interest deduction
Could anyone help me regarding the following matter:
There is house property co-owned by husband and wife equally. Housing Loan is taken solely on the name of husband and he repays the housing loan installments from his bank account.
Then is it possible for a wife to claim 50% deduction of interest on housing loan and principal repayment U/S 80C?
Replies (4)
Hello,
A co-owner, who is not a co-borrower, is not entitled to tax benefits.
Similarly, a co-borrower, who is not a co-owner, cannot claim benefits.
Wife can't cliam deduction u/c 80c.
ONLY HUSBAND CAN CLAIM 100% 80C DEDUCTION...
Absolutely . 50% - 50% can't be claimed.
Apart from 80C her Husband can claim Rs.2lakhs as Housing Loan Interest Repayment u/s 24B
Thanks
N. Rajendran
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