Can Wife Also Claim Interest Deduction Despite Husband Paying EMI of Home Loan?

Me and My husband have taken a home loan last year. It was a joint loan on a property. EMI is paid from my husband’s salary account. Can I take tax benefits for it even though I am not contributing to paying EMI. The interest statement has names of both of us.

Rashmi, Delhi

Yes, wife can also claim the deduction u/s 24 of the I T Act because the deduction u/s 24 is on due basis and not on the basis of actual payment .

Therefore, husband and wife can both claim tax benefit by deduction of half of interest embedded in EMI (50% each )despite not paying the EMI, only if following conditions are satisfied.

1. The Wife is also joint owner of the house property.

2.  Wife is also joint loan applicant.

3. Husband shows that the share of EMI which he is paying is actually loan to