Related to loan and deductions

If a property purchased in the name of wife and loan taken by husband to pay the value of property and EMI paid by husband then husband will be eligible to take deduction under section 80C principal payment of loan and under house property for payment of interest on loan ??
Replies (4)
Quick Summary
This discussion explores whether a husband can claim tax deductions for home loan principal and interest payments when the property is in his wife's name, but he is paying the EMIs. While generally deductions are linked to ownership, there's a consideration for co-ownership. The consensus leans towards the husband being eligible for deductions under Section 80C for principal repayment and Section 24(b) for interest, especially if he is a co-owner or has contributed to the loan.

Yes Husband can claim deduction on repayment of housing loan u/s 80C and for interest deduction can be claimed u/s 24(b)
If both husband and wife have joint

If husband is a co-owner, then I think he will also be able to avail such deductions proportionately.

The husband cannot claim the deduction because he is not the joint owner. 

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