INCOME TAX REBATE ON HOME LOAN

Share
Share This Thread
  1. A.L.GAUTAM

    A.L.GAUTAM New Member

    sir, my property/self occupied home is in the name of my wife ,she is a house wife and i am a salaried employee. we both have taken a home loan from HDFC bank.

    first applicant in home loan account is my wife and i am a co borrower/applicant in home loan account.

    HDFC has issed a home loan deduction certificate in the name of both applicants
    ist my wife and iind myself.

    repayment of home loan EMI is being paid by me from my salary account.my query is :- can i claim income tax rebate on it or only my wife is eligible for tax rebate when she is not repaying any EMI.

    Regards,
    A.L.Gautam
     
  2. Amit Sahni

    Amit Sahni Active Member

    The person who is claiming the deduction should be the owner of the property as well.

    As you are not the owner of the property, therefore you cannot claim the deduction for interest and principal and only your wife can claim.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
INCOME TAX REBATE UNDER SECTION 24 FOR HOME LOAN Income Tax Feb 20, 2018
Home Loan Interest Rebate in Income Tax Income Tax Jul 13, 2017
Income tax rebate on Bank FD's Income Tax Mar 3, 2017
Proofs to show Construction of House for Income Tax Rebate Income Tax Oct 16, 2016
Income tax rebate on home loan interest for second house Income Tax Sep 16, 2016