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Home > Forum > Hyderabad > Home Loan > What are the tax benefits one get if taken joint home loan?

What are the tax benefits one get if taken joint home loan?

Q: I am planning to take a joint home loan. What tax benefits I will get if taking a joint loan?

tax benefits one get if taken joint home loan
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From a taxation point of view, a joint home loan is beneficial as all co-borrowers can claim tax deductions under Section 24 of the Income Tax Act against interest repaid and under Section 80C against principal repaid.The tax benefits that can be claimed would be in proportion of the share that the individuals have in the loan.
Sanjana Jain


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