Hello,
Planning to take a Home loan of 20 lacs from xxxxx bank and tenure is 10yrs.
My brother is a Primary Applicant & me as a co applicant.
1. For next 5yrs my brother only will pay the whole EMI, In this case my brother can avail entire tax benefits??
2. For remaining 5 yrs, i will only pay the whole the EMI, can i avail entire tax benefits? and also let us know that the banks will agree when i switch the ECS process from my brothers account to my account.
We are salaried persons. and both are co-owners of the property.
1 Answers
Hi,
Both of you may have to enter into an agreement regarding who will claim 100% tax benefits for the said period. Some employers (if salaried) do ask for this that other co-borrower is not going to claim tax benefit….
Regarding ECS change request..kindly check with your banker/lender..
Both of you may have to enter into an agreement regarding who will claim 100% tax benefits for the said period. Some employers (if salaried) do ask for this that other co-borrower is not going to claim tax benefit….
Regarding ECS change request..kindly check with your banker/lender..
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