Benefit of house loan - Property in joint name, Income Tax

[vikas mittar]

if a house is brought by husband & wife in joint name, but housing loan is taken by husband in his own name & repayment of loan is made by his bank account only , then benefit of repayment of Principal & int shall allow only to husband or to both husband & wife.

Posts / Replies

[Surender Gupta]

If there is no repayment, there is no deduction. In you case, repayment of loan is being made by husband. Therefore, wife is not eligible for deduction.