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Enjoy tax benefits with joint home loan

Enjoy tax benefits with joint home loan

Tuesday, July 18, 2017, 5:43 PM

From a taxation point of view, a joint home loan is beneficial to all co-borrowers who can claim a tax deduction of Rs 1.50 lakhs for principal repayment under Sec 80C and Rs.2 lakhs for interest payment under Sec 24. In the case of two or more people taking a joint home loan, each of them can enjoy tax benefits under the Income-tax Act.
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