Tax treatment of Rental income and home loan repayment of joint home loan

The residential property is jointly owned by working partners which was let out. The whole rental income is credited to the bank account of the wife. In this case, how to treat the rental income? Is it taxable wholly in the hands of wife? Or equally in the hands of both husband and wife?

 

Similarly, the home loan is being repaid only by husband. In such case, are the benefits under sec 80c and 24b available only to the husband since he is the only one repaying the home loan? Or such benefits are available for the wife as well, being the co-owner and co-borrower, even though she is not contributing to repayment of loan?

Replies (1)
  1. Rental income is taxable equally in both hands.
  2.  Both owners as coborrowers can get benefit of home loan deduction even if either or both may be paying the EMI.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
31 October 2026
Accountants

sankaran and krishnan

New Delhi

B.Com

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details