Joint home loan journal entry

Since you both have taken a joint home loan equal EMI's need to be tranferred from oth of your personal accounts into the joint account of PNB whihc in turn would get trasnferred to teh loan account.

What you can do is both of you can set an Auto Debit facility from each of your individuals accounts to the joint account, so there's no need of one you trasnferring one mont and the other the other month.

I suppose that you both are working and are being assessed to income-tax.

Thanks a lot for the quick reply. I will do that from next EMI itself.

In the meantime, for last year i have paid few emi's 27K's from my sbi, and few from my wife's. What can I do for that ? Or Do I leave that like that only.. ?

I suppose that the proportion of the interest would be fixed between you both.  So anyway out of the total interest paid as per bank certificate the same would be apportioned between you too.

But however just try to reconcile the EMI's paid here and there from your both accounts to match-up with the bank interest certificate.

thanks a lot...!!!