Hello,
I plan to buy a house by taking loan of 25 lakh. Instead of availing tax exemption i would prefer paying the rent. As i think once i repay the entire amount, my entire salary will be taxable.
This is what i have in mind. I would like to avail the loan but register the house in Father or Mother’s name. Either of them will be cooaplicant. Every month i will pay them rent. I will not claim exemption for the Loan. Is this valid/legal. Let me know if there is any documentation / formalities that should be done.