Income tax form itr 2 - co-ownership of property

I had the same question, didnt get any replies from a post few weeks ago. I asked 2 CAs - they said property share in ITR-2 should be from tax/financial ownership perspective. Hence if you are clubbing everything anyway, then from a tax perspective its 100% in your name. Doesnt affect anything else. I'm following this advice as I file my return. Hoping advice from CA is correct. 

My two bits..

to my mind its about beneficial ownership. Who really owns the property. If the amount is fully paid by the husband (incl loan- which is taken by the husband) then then its not beneficially co-owned by the wife. So I would put 100%. In my view the wife's name in the property is only for convenience purposes.

I tried the excel utility.. it does not seem to make any adujustments to the house property income (based on % of co-ownership). So if the property is actually co-owned the the HP Income has to be adjusted (as per % share) and entered into the efiling software.

Any other views?

Yes, you can claim income tax exemption if you are a co applicant in a housing loan as long as you are also the owner or co owner of the property in question. If you are only person repaying the loan, you can claim the entire tax benefit for yourself (provided you are an owner or co-owner). You should enter into a simple agreement with the other borrowers stating that you will be repaying the entire loan. If you are paying part of the EMI, you will get tax benefits in the proportion to your share in the loan.

what if the plot of land is in the name of wife only ? and the loan to construct house is taken jointly due to wife being only a housewife ?? vvkk @ in.com 9414029345