Wife avails tax benefit on husband property
This query is : Resolved
11 July 2022
Dear Team, Home purchased in my name ( Husband ) , home loan taken , my wife also co-borrower , loan EMI paid from my wife bank account ,
can my wife avail tax benefit on this ??
can my wife avail tax benefit on this ??
11 July 2022
Your must should also be the co-owner of the property to avail of Income Tax deduction.
11 July 2022
No. She cannot avail the deduction u/s. 24(b) of IT act.
11 July 2022
Then what is the solution??
How my wife will get tax benefit,
What we need to do now??
How my wife will get tax benefit,
What we need to do now??
12 July 2022
As suggested by expert, wife should have been owner/co-owner of the property, as well as co-borrower of the loan to avail the home loan benefit.
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