Home loan income tax benefits


To claim home loan income tax benefits is it a co-borrower also to be a co-owner for claiming?

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A basic condition for claiming tax benefits, is that you should be a co-borrower of the loan, as well as a joint owner of the property. Unless you satisfy this basic condition, you cannot claim the tax benefits on the home loan.

You must be a co-owner in the property.
You must be a co-borrower for the loan .
The construction of the property must be complete.

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