Reg Home Loan

Answers in order: -

a) No doing that is not correct. Either they have to claim in ratio of property holdings or their contribution of the EMI. But the bifurcation has to be done for Principal "AND" Interest.

b) They have escaped assessment till now, mostly because processing has happened through CPC and not by an officer. Once, caught all old AYs can be opened.

c) The Dept. can cross check this from the banker where the assessee's PAN or Aadhar has been linked.

a) No it's not correct. Co-borrower must have a share in the property, then only she can avail the tax deduction benefit. Refer the following article in support of the opinion -

https://www.relakhs.com/joint-home-loan-eligibility-rules-income-tax-benefits/

b) & c) Until and unless the department gets any clue from any other sources regarding these treatments which arises suspicion in their mind, nothing would happen. But if the jurisdictional AO or any other higher officer will have reason to believe about the same, then they might issue notice U/s 143 as well as U/s 148 for earlier years.

Department can gather information from the bank itself because at the time of taking loan the assessee must have submited the property documents in which it's clearly evident that the husband is only the owner.