Can Husband claim tax benefit of Loan on Wife's name

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  1. ronakk simejia

    ronakk simejia New Member

    Mr.x and mrs .x take loan from public bank, both are salaried person . Mrs .x is first borrower and mr.x is second one.
    Now mrs.x income is under basic exemption limit and mr.x income is more then exemption limit.
    Can mr.x take benifite of interest on house loan?
    Can mr.x take benifite of extra installment payment benifite?
    Please guide
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    The person who is repaying the loan will take the claim the deduction.

    In case both of them are repaying the loan, they will claim the deduction in the ratio in which the loan has been taken.
     
    ronakk simejia likes this.
  3. ronakk simejia

    ronakk simejia New Member

    If he pay more then their installment amount , can he take more benifite?
     
  4. gaurav_kumar

    gaurav_kumar Well-Known Member

    You can claim deduction in the same ratio in which the deduction has been claimed till now

    You cant change the ratio every year.
     
  5. Arif Ali

    Arif Ali New Member

    nothing matter,
    the person who is paying the loan installment can claim the deduction only in paying ratio.
     
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