Who can claim deduction of Home loan?

Q & A ForumCategory: Home Loans & CreditWho can claim deduction of Home loan?
GAGAN JAIN asked 9 years ago
A home loan has been taken by my Brother and my Father in Assessment year 2017-18 . Applicant of loan is my brother while co-applicant is my father. The Owner of the House Property is my Father. My Query is that In whose Income Tax return , I can claim deduction of Home loan principal and Interest, Whether in my Brother's return or in my Father's return?
1 Answers
Sreekanth Staff answered 9 years ago
Hi, As the owner of the property is your father, only he can claim tax deductions on home loan EMI payments. Kindly read :  https://www.relakhs.com/joint-home-loan-eligibility-rules-income-tax-benefits/ https://www.relakhs.com/budget-2017-18-important-tax-proposals/
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