Topic: Home loan

This message was edited 1 time. Last update was at 29/12/2009 13:53:51

I have taken a joint home loan with my wife. But the hose is registered only in my name. My questions are

1. Can my wife claim claim tax benefit in a self-defined ratio or is there a ratio rule?
2. My house is let out and can we claim the full interest for tax savings
3. Is the principal savings is additional to other 80C savings like LIC. or should the total savings adding LIC home loan principal must be 100000. The house is let out .

Please clarify

Thanks and Regards
Venkat

I think if your house is let out then you can claim tax benefit for both principal and interest. However your house rent amount will come under taxation.
I am not sure of your other questions

This message was edited 2 times. Last update was at 29/01/2010 13:27:10

I'm also want to apply for home loans because I want test if it is effective to have low interest rate in buying a home.

This message was edited 1 time. Last update was at 30/03/2010 12:00:30

Home loans is best solution to buy a first time dream house and many companies provide wide range of home financial services including mortgage broking, home loans, home insurance, life insurance and credit card.

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