We have an independent house registered on my father's name. I took a loan for construction of first floor. The bank has granted the loan after submission of documents and verifications. My father is co-applicant for the loan. Now when I submitted the loan statement at my company for tax exemption on loss due to loan, the company is saying that the sale deed is not on my name but on my father's name, so I cannot claim exemption. Can't I claim exemption when I am paying the loan EMI where my father is co-applicant ?

1 Answer 1


Your company is correct.

As per income tax laws, The housing exemption is for the owner of the house provided he has taken a loan for reputed financial institution.

In you case the property is not in your name and hence not eligible for exemption.

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