I have brought home loan from bank of Maharashtra.
Declaring 3 owners/applicatants for the same property.
My brother, my mother and myself.
Mother is house wife where as me and my brother is working in private company.
For now me and my brother paying EMI through cheque from our respective salaried account to BOM join account at end of month.
My question is can i get 50% tax benefit though my ownership to 33.33% in join loan.
I asked to many friends/CA. Few are saying as you are paying 50% EMI, you should get same percentage tax benefit.
Hoping you would definitely solve my query. Let me know if you require more detail on loan structure or other.
Email: shah450@gmail.com