Home Loan and Income Tax Exemption

POSTED BY Amit Chopra ON September 11, 2012 2:46 pm COMMENTS (4)


I have taken a home loan for a property and I would get the possession in June 2013. The loan is in the name of me and my wife, and the ECS account belongs to my wife. Also the property is in the name of both of us.

I wanted to know that can both of us claim the benefits of tax exemption on stamp duty and registration under 80c since the amount exceeds Rs 2 lacs and what documents need to be shown? Also will there be any problem if we are claiming HRA too?

4 replies on this article “Home Loan and Income Tax Exemption”

  1. vij says:


    Only the thing which you need to take care is that the tax benefit needs to be in the ratio, i mean if both of you are 50:50 borrower, then the income tax benefit would also be 50% to each and the same applies to HRA benefit. For HRA also, both can’t claim full benefit, it needs to be in the ration

  2. Amit Chopra says:

    Thanks a lot. And this was really quick. 🙂

    1. Dear Amit, please feel free to ask in future as & when you feel so.



  3. Dear Amit, as both of you are co-owner as well as co-borrower, each of you can claim tax benefit on stamp duty as well as principal + interest benefit. Yes in case you people are living on rent in actual, HRA benefit can be claimed by you.

    To claim stamp duty benefit, please produce the copy of the sell deed to your as well as wife’s employer.



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