Rebate on home loan

Daljit Singh Mann (Querist) 17 October 2012 This query is : Resolved
Respected Sir,
We (Husband & Wife) have taken joint home loan from Axis Bank. Mode of repayment of home loan is auto debited from my Axis saving Bank Account and my wife is owner of such house. Please tell me :-
1 Who can take rebate in Income tax on such payments, my self or my wife ?
2 Can we both take rebate jointly in Income tax on such payments.

Thanks and Have a Nice Day

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ajay sethi (Expert) 17 October 2012
loan is being repaid by you only not by your wife . hence you cna claim rebate .

if your wife had been making some payments for home loan then both could have claimed rebate

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