- If you apply for a Joint Home Loan, then you and your co-applicant can avail tax deduction both on the principal and interest part of the loan. This is only applicable, if he/she is a co-owner of the house. A guarantor cannot avail the tax benefits.
- Under Section 80C, you can get a tax benefit upto Rs. 1.5 lakhs on the principal amount but make sure you do not sell your property within 5 years of your purchase.
- Under Section 24B, you can avail tax deduction upto Rs. 50K. But you can’t avail tax benefits on a house that is still under construction.
Thursday, 9 March 2017
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Enjoy Maximum Tax Benefits With The Joint Home Loan
Home Loans are easy to apply anyone can easily apply for a Home Loan online or offline. But sometimes people with lower salary and bad CIBIL face problem in obtaining a Home Loan.
So if your salary is not that good or you have bad credit score then you can apply for a Home Loan with a co-borrower.
Tax Benefits of Home Loan Joint Application:
To Know More About Joint Home Loan Tax benefits follow the reference article.

About Arwind Sharma
Arwind Sharma, Currently residing in Gurugram, Haryana. I work as a financial advisor with a Fintech company and have an experience of more than 7 years in personal finance. Having worked with some of the topmost financial firms in India I developed a knack for writing and sharing my knowledge to help others. If you need help or suggestions regarding matters related to finance and investment, you can connect with me on social networking platforms
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