Even if wife is co-borrower in a home loan, she can’t claim income tax deductions without ownership rights in the house property

Homebuyers need to know that tax benefits on home loans are linked to property ownership. Even if a wife is a co-borrower and pays EMIs, she cannot claim tax deductions without ownership rights. To avail these benefits, an individual must be both a co-owner and a co-borrower. Proof of ownership and loan repayment is crucial for tax authorities.