Hello Sir,
I plan to register a new flat on my name and on my wife's name. My wife has no income and she is a house wife (no PAN card for her).
We are going for House loan through a private bank (First applicant : myself ; Co-applicant - my wife). As per the current income tax law, i should get exemption on the both Principle and the Intrest payment on my total income?
My question is, If i register the flat on both my name and as well as on my Wife's name, will i get the above tax exemption?
I am employed in a private company and i hold a PAN card.
Please clarify.
thanks
Shanmugam
