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    varkhedkar_n's Avatar
    varkhedkar_n Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Mar 9, 2008, 02:07 AM
    rebate on amount paid for repayment of housing loan
    Mr X purchased a house jointly with his wife. For purchase of house he has taken a loan in joint names with wife. Loan repayment is being done by Mr. X alone from his account. If wife of Mr X isnot willing to take benefits of repayment in income tax, is Mr X alone eligible to take the whole benefits under section 24 and under section 80 for the said loan ?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 25, 2008, 01:40 PM
    Assuming they are both equally liable for payment of the loan, if they file separately, each must claim HALF of the interest on their Schedule A.
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