25 December 2008
Sir, I have taken a home loan based on my salary. My wife is house wife with no source of income. Entire loan EMI is paid by me but my wife is coapplicant in my home loan. The house i purchased is in the name of my wife. Will I be eligible for Tax rebate on interest paid by me?
25 December 2008
YES AS YOU ARE PAYING THE INSTALLMENTS & AS YOU SAID YOUR WIFE IS CO APPLICANT SO YOU ARE ALSO A PARTY TO THE APPLICATION AS A BORROWER. GO AHEAD CLAIMING THE DEDUCTION CHANDRAKANT AMBANI BOMBAY 9819408963 / 9821240674
25 December 2008
But the house is registered in the name of my wife? Is it not necessary that the property should be in my name to claim the tax benifit?
CAclubindia
