I have purchased a flat by obtaining home loan. The flat is in my wife's name only.Can I claim IT Rebate?

Answer 1

Best Answer - Chosen by Voters

I don't think you can claim IT rebate without even a co-borrower.

Answer 2

Home loans for bad credit are for people who find it difficult to get loan facilities due to poor credit ratings. However, people with bad credit may have to deal with several difficulties at times and they also pay slightly higher interest rates for the loans. One of the best ways to increase your chances of getting a home mortgage loan if you have poor credit is by improving your credit history. Besides, you can get in touch with some good sub prime lenders who may be able to assist you in getting the best deal in getting such loans.

http://www.worldbestloans.com/homeloans.htm

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Answer 3

No! Until and unless you are a co-owner of the flat you cant claim IT rebate.

Answer 4

you have to be the co owner of the flat.

Source(s):

www.propertyhelp.in

Answer 5

if you are joint holder then you can claim IT rebate. else you can add your name now. it will be costly.
also this benifit is next two years till Direct tax regime starts from 2011. the present draft of direct tax does not section 24 or section 80 benifit.

Source(s):

my love for personal finance.

Answer 6

If the property is in your wife's name, the loan also would be in her name. However, if she is not working and you pay the EMIs, or even if she is working but you can show that YOU are paying the EMIs, wholly or partly, you can claim IT rebate to the extent of your share of repayment.