Need A Financial Product Forums Tax Savings Can a co-owner and co-applicant claim 100% tax benefit

This topic contains 1 reply, has 2 voices, and was last updated by  Kalpana Lad 2 years, 1 month ago.

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    Kalpana Lad
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    I have borrowed home loan from HDFC Ltd for which my father is a co-applicant. At present he is bearing the full EMI on this loan by giving cheques from his own account. Being a co-owner of this property, my father has 50% right in it. Can a claim tax rebate on the interest and principal payments for the loan?

    #48203

    As your father is a co-owner of the property and has a right of 50%, he can claim a tax rebate on the EMIs for 50% only. It is immaterial here whether he is paying 100% EMI or not.

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