my home is name of my wife and loan is sanctioned my joint name,am i entitled to avail tax exemption on this.?



i have my own home in Gujarat for which i have taken a loan from icici bank and i am availing income tax exemption. now i wish to loan transfer to SBI. my home is name of my wife, she is a housewife and she is not availing any benifit on that home. Am i entitled to avail tax exemption on this loan? Bankofficer says no, because home is not my name.

my home is name of my wife and loan is sanctioned my joint name,am i entitled to avail tax exemption on this.?
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4 Replies to “my home is name of my wife and loan is sanctioned my joint name,am i entitled to avail tax exemption on this.?”

  1. Carry on availing Income Tax Exemption due to any spouse can take the benefit in their return.

    If SBI agree to pay, you may immeditaly shift your loan in your joint name as the loan is repaid by your earning and your wife has no income you are entitled to claim exemption in your Income Tax return.

    Manoj Ahuja 9314231642




  2. Yes.. u can.. since you are paying the EMIs and the Loan is in ur name(technically in joint names, but still it does carry ur name). if u r employed, for calculating tds and issuing u form – 16 the employer may ask for a letter from your wife stating that she’s not going to claim any tax benefits from the housing loan repayment.u can claim tax benefits – both on the loss due to interest component and also the principal component.





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