ADVISE ON HOME LOAN TAX BENEFIT
This query is : Resolved
25 July 2022
Please advise tax benefit avail both wife and husband Rs. 2 Lac each on Home loan Interest if property purchase Joint name and the property use in self occupied 2.Also advise is it any condition for payment of EMI from both Bank Account or Joint Account?
Dharam Pal
9810600330
Dharam Pal
9810600330
25 July 2022
1. Yes, both can claim deduction of Rs. 2 lakhs each provided both are co-borrower of loan along with join owner of the property.
2. Not mandatory, but advisable.
2. Not mandatory, but advisable.
06 August 2022
Even if the EMI is not given from Joint account, it is advisable to transfer half of the yearly EMI the the coborrower account who is paying the EMI.
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