POSTED BY August 7, 2013 10:27 pm ONE COMMENTON
Two years back, My Father and Brother jointly had Home Loan. My Bro. paid approx. 1.3 L per ear & got the tax exemption accordingly.
Now, I got a job & I am also contributing for the repayment of the loan. My query is “CAN I AVAIL TAX EXEMPTION FOR THIS LOAN REPAYMENT”
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One reply on this article “Tax Relaxation for paying Parent’s Loan”
Dear Kirubhakaran, are you co-owner & coborrower in the property & loan or not? If you are not a co-owner, you can not claim any tax benefit although you may be co-borrower.