*I have purchased new flat in pune. The flat is purchased jointly with my son my spouse and me.WE three are owner of the property.We are all salaried person.Housing laon is availed by my son and his mother is co-applicant.As salary of my son is not sufficient we both parrent contribute 50% of istallment of housing loan.I am guarantor two them.Can we (parrents ) claim for housing loan benefit in tax return?
1 Answers
Home loan benefit can be taken in case both home loan and property is in your name.
Your wife can get housing loan benefit in same ratio as she contributed in loan EMI. But as you are not a loan co-applicant, you cannot take home loan income tax benefit.
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