How is the tax benefit shared in a joint home loan?

Co-borrowers can claim tax benefits in proportion to their ownership share in the property. For interest (Sec 24b), each co-owner can claim up to ₹2 Lakhs. For principal (Sec 80C), each can claim up to ₹1.5 Lakhs.

Can a co-borrower claim tax benefits without being a co-owner?

No, to claim any tax benefits on a home loan, the individual must be both a co-borrower in the loan agreement and a co-owner in the property registration.

What is the maximum total interest deduction a family can claim jointly?

If a husband and wife jointly own a self-occupied property with a 50:50 share, they can collectively claim up to ₹4 Lakhs (₹2 Lakhs each) in interest deductions u/s 24(b) under the Old Regime.

Joint Home Loan Tax BenefitFY 2026-27

Optimize Section 24b and 80C deductions between co-applicants/co-owners.

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Quick Summary: Joint Home Loan Tax Benefit

Joint home loans allow each co-owner/co-borrower to claim separate tax limits. In FY 2026-27, two owners can collectively claim up to ₹4 Lakh for interest (Sec 24b) and ₹3 Lakh for principal (Sec 80C) in the Old Regime, doubling the tax-saving potential for a household.

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Last verified May 2026

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