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Can co-applicant of house loan is eligible for IT deduction?

April 26, 2017Business co-Applicant deduction eligible Finance House India loan taxes

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10 Posted

Can co-applicant of house loan is eligible for IT deduction?

3 Answers

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You are a co-applicant just because you are having income and you are like a guarantor to the loan. May be you are repaying the loan amount. As long as you are not the co-owner of the property, you cannot claim any deductions.

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there is no restriction for co-applicant eligiblity for IT deduction. The requirement is only that the co-applicant has the right in the property and repayment of loan or the interest on the loan is paid by co-applicant. if you fulfill both the condition you are eligible otherwise not.

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