We are have applied home loan jointly ( me & my wife) and planning to by property in my wife name ( housewife, no income). Will i be able get income tax rebate on home loan that I will be paying from my salary
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Joint Home Loan
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Mr. Pradeep
Yes, you can claim the deduction on Interest & principal amount..But you must take the certifate from bank for th payment of payment & interest amount.
Please evidence beneficial ownership of property in your name also. Even if you have property in wife's name for convenience, show it as your beneficial ownership and file the Income From House Property and Wealth Tax in your name only and not in wife's as she has not received the property for adequate consideration.
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