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?
CAclubindia
