A co-owner also a co-applicant of joint home loan like the borrower can enjoy home loan co applicant tax benefit and claim a maximum amount of Rs. 2 lakh as a tax return on home loan interest rates deduction.
Each co-owner qualifying joint home loan eligibility can become a co-applicant for the home loan and claim a total amount of Rs. 1.5 Lakh on principal repayment. For the registration and stamp duty the co-owners can split the payment and claim returns of 80C deductions. However this should be claimed within a year of payment to enjoy joint home loan tax exemption.
Find your dream home from
18000 + properties
Get a top-up loan without any extra documentationAPPLY NOW
Calculate your monthly EMI, installments and rate of interest applied on the loan amountCALCULATE NOW
Determine your Home Loan eligibility and accordingly plan the application amountCALCULATE NOW