tax rebate on Home Loan

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Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2010 i have a flat purchased in my wife's name and have taken loan in my name . can i avail facility of tax rebate in both 80C and 24b. also rental income from it will be added to my income or my wife's

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 October 2010 your wife can avail the Deduction under 80C & 24b,also Rental income will be taxable in the hands of your wife

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CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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08 October 2010 agreed.............

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Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2010 thanks for the answer some more clarification needed.
what if wife is a house wife and husband is co applicant in the home loan.can the husband get tax benefit

Also if the property is joint with wife as first holder. Then who can take the loan and who can get the tax rebate. Please answer

thanking you