Monday, November 7, 2011

Can I get full tax benefit for the housing loan premium paid if my wife is co-owner?I pay prem from my salary.

I purcased the house on loan from a nationalised bank in India. Bank insisted that I buy house jointly with my wife. I agreed. The house now is co-owned by my wife. But I pay the full premium from my own salary as my wife is not earning. Now the problem is that my employer says that I will get only 50% tax benefits as the property is co-owned by my wife.

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