Comments on: Home Loans: Joint ownership

By: Rajen

Rajen — Thu, 27 May 2010 04:39:15 +0000

Hi, This is regarding the comments on benefits of taking a joint home loan where it states that both applicants can avail of the tax benefits individually provided certain conditions are met. I have spoken to a number of CAs and they are of the opinion that the overall limit for interest is 1.5 lacs irrespective of the number of applicants/owners. The income tax site in its FAQ also mentions the same. Can you pls clarify.

By: Tax India

Tax India — Sun, 25 Apr 2010 15:05:51 +0000

Ya, I m very keen to know about tax benefit for joint ownership. And finally i find your post bcz of commenting on my post. Going to read your whole blog!
thanks.
Tax India´s last blog ..TDS from Salary of Employees of Multi Branches Concerns

By: Austin

Austin — Fri, 02 Apr 2010 16:15:16 +0000

@Virender: Yes, you can claim tax benefits.
Austin´s last blog ..Term Insurance Your Best Life Cover Bet

By: virender

virender — Fri, 02 Apr 2010 08:48:25 +0000

I and my wife have secured a joint home loan. House shall be constructed on the land gifted to my wife by my father. We both are Goverment Employees. Can I claim tax benfits. If no, what should I do to avail the tax benfits.