Interest exemption under home loan in case of co borrowers

surya (1) (62 Points)

08 February 2013  

Hi friends

 

 a couple(earning member and non earning member)  has taken a home loan(self occupied property/let out property) as co borrowers and they are also the co owners,repaying the interest and principal amount. If the couple legally enter into a contract that, the earning member to bare the entire burden of home loan. Can the earning member claim the interest upto rs.300000 against the limit of rs.150000.? for his payment towards interest.

Kindly resolve this