Purchase of new house property.

*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?

asked Jul 19 '11 at 07:22 by bhoodhar 1112

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.

answered Jul 19 '11 at 12:08 by Pankaj Batra 5.2k320


Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Jul 19 '11 at 07:22

Seen: 1,879 times

Last updated: Jul 19 '11 at 12:08