Income Tax Query related to Home loan

This discussion addresses whether an individual can claim income tax deductions on a home loan if the property is registered in their wife's name. Generally, to be eligible for deductions under Section 24(b) and 80EEA, the individual must be the owner or co-owner of the property and the borrower. The property and loan must be in the name of the person claiming the deduction, as banks typically require the property to be in the applicant's name to grant a loan.