My wife & I are joint holders of a property and joint borrowers of a home loan. Can I claim the Income Tax exemption alone as I am paying all EMIs from my salary. My wife is also working but earning less than Rs.50000/- p.a.
RE:Exemption on EMIs on home loan
by Sandeep Bhat on Feb 09, 2007 04:04 PM Permalink
Yes, you can claim entire tax exemption. You just need to submit a declaration from your wife when you file your tax returns. The declaration should mention that she has not claimed any benefit from the same loan.
