What if I take a home loan of more than Rs 15 lakh and also make my spouse as co -applicant, (suppose if it is 20 lakhs), then the annual interest would be 2 lakhs and hence can both my spouse and myself claim benefit by dividing the total interest (and also principal) between us ? There is nothing in this regard in the article.
RE:Home loan !!
by Vipin Durga on Jun 02, 2007 01:14 AM Permalink
Not only on the loan agreeement, but also both of you should be the joint owners in the said property. Tax benefit can be enjoyed by only the person in whose name is the property.
