Tax Benefit for Home Co-owner and Home loan Co-borrower

I and my wife are planning to buy an under-construction house as co-owners (50-50 share), for which we are planning to take joint home loan. We have a joint account in the same bank from which we are planning to take home loan. How should loan EMI repayment be done so that both of us can claim tax benefit under section 80C and Section 24 once we get possession of the house? As EMI payment will be made from joint account how can we prove that both of us have contributed equally to EMI? 

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Quick Summary
This discussion explores how co-owners and co-borrowers of an under-construction property can maximise tax benefits under Sections 80C and 24. The main concern is ensuring equal tax deductions when loan EMIs are paid from a joint account. The advice suggests obtaining an interest certificate from the bank that clearly details both co-borrowers' contributions to prove equal repayment for tax purposes.

Need to get EMI repayment certificates from the bank as paid by each equally.

Thank you for quick response 🙏

My pleasure.              

Intrest Certificate include the details of co borrower also

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