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Regarding deduction of Housing Loan

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108 Points Posted on 22 February 2022
Dear Sir

I pay Housing Loan Installment of Rs 10000/- monthly and installment deducts in my bank account.

Both mine and wife's name are there in this loan . so can we both take its deduction in income tax
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On 22 February 2022 at 13:11 Report
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30 Points Posted on 22 February 2022
Yes if the loan is joint holder then we can take deduction
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On 22 February 2022 at 16:12
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CFO- at NHTF
58280 Points Posted on 22 February 2022
Both can take deduction but deduction is not 2 times .

It's available in proportion of their ownership
59 Reply
On 22 February 2022 at 19:29
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2 Points Posted on 23 February 2022
Both should have name in property agreement. Both can take benefit of the loan repayment in the proportion of ownership mentioned in the agreement.
If the proportion of ownership is not mentioned in the agreement them by default both have 50% ownership
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On 23 February 2022 at 00:35
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CFO- at NHTF
58280 Points Posted on 27 February 2022
Yes..You may claim 50% each
59 Reply
On 27 February 2022 at 10:47


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