My earning wife has a house in her name in which both of us live. We have purchased another flat in joint name (50% share each) for which she is co-borrower .
But the joint account from which the EMI is paid for the joint property, is my salary account and as a result it is me who is actually paying . Hence I want to claim the total 100% relief on interest part which will be more than 2 lacs owing to it being deemed rented. My wife will claim relief only on the occupied flat. Can I do it considering she is not paying for the EMI ?
1 Answers
Hi,
Self - occupied flat - Yes, your spouse can claim the tax benefits.
Let out property - Ideally, the tax benefits have to be shared by both of you. In-case if you are paying 100% EMIs from your individual account, you can get 'self-declaration' from your spouse that she is not going to claim tax benefits on home loan. Your employer might ask for this declaration/agreement. Also, you may request your lender to issue loan statements only in your name (if not being issued).
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