Interest benefit on jointly owned property

An individual has taken home loan and received possession in 2013-14 jointly (both property and the loan) along with his spouse. He wants that the entire interest for the year 2013-14 be claimed by his wife and from the following year the interest is claimed in 50:50 ratio by both. EMIs for the loan are repaid from the individual's account to which his wife transfers some amount from her bank account to his account. Can this be done ??

Replies (2)

If they are joint owners then they have to claim the interest expenses.

my question is can they change the ratio?
this year wife wants to claim all the interest as her income is stepping into higher slab.
and in coming years they want to claim it 50:50.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details