Tax rules interest exemption

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Dear Team, I have recently booked a flat on my wife's name. I have few questions with regard to income tax exemptions.

First, will I get the exemption on interest paid to bank against home loan keeping in mind the property is in my wife's name.

Second, my package is 12,64,000.. if I make the propert as joint then new tax rule is beneficial for me or the old one?? As per my knowledge , new tax rule dies not allow any exemption. So should I make the property as joint thereby saving the money of 1% registeration.

Third, will this tax rule be the same every year going forward. I wanted to get the benefit of interest paid to bank against the income tax. 

Please help.

Thanks

Sailesh Mutreja 

Replies (1)
First
Home loan interest deduction will be eligible to home owner and home loan taker.

A person taking housing loan has to be the owner of house then only interest claim

Second

Old one

Making it joint will be your decision.

But what percentage ownership you will mention ??

eg. if you mention 50-50 then home loan interest deduction you will get only for 50% being your share.

Your wife won't get Interest deduction as she is not borrower of loan.

Third

That is a guess work as we don't know budgets.


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