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Home Education You get tax break only if you are co-borrower & co-owner of home loan

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You get tax break only if you are co-borrower & co-owner of home loan

You get tax break only if you are co-borrower & co-owner of home loan

Wednesday, June 28, 2017, 11:28 AM

You cannot claim a tax break on a home loan even if you may be the one who is paying the EMI. For instance, there may be a situation when you're paying the EMI of home loan for the property which is owned by your parents or spouse. You can claim deductions only if your name is on the loan book as a co-borrower.
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