I am going to take a housing loan for Rs. 8 lakhs for a residence.
The property will be in my name only. However, the bank insists on making my wife a co-applicant.
If the property is registered fully in my name with the housing loan from bank with my wife as co-applicant, will I be able to claim full deduction of the interest myself though my wife is coapplicant?
Dear Amit,
Yes you can claim the full deduction of interest provided the installment amount is paid from your income chargeable to Tax.
Regards
Rohit Gupta
RHT1203 @ GMAIL.COM
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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