Deduction of HRA by a non financial co-applicant.

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  1. Venkatramana C

    Venkatramana C New Member

    Hello Sir,

    I have a query pertaining to the home loan deduction by a non financial co-applicant.

    If the house is registered in both (husband and wife's) name with 50% equal share and the loan is sanctioned only based on the husband's income, can a wife being a joint co-applicant can claim for tax deduction under the home loan.

    Property is a self occupied property which is completely constructed and they are residing in the same house.

    She joined a concern later after availing the home loan and the home finance company has issued a tax certificate letter specifying both their names.

    Help me to understand whether the tax deductions under Section 24 (on interest amount) and Section 80C (principal amount) which can be claimed separately by both the applicant's of the home loan.

    Your earliest reply with clarity is highly appreciated.

    Yours sincerely

    Venkataramana C.
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