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.

Related Calculators

Income Tax Calculator

Old vs New Regime Advisor

Form 16 Gap Analyzer

IP Box Regime (Sec 115BBF) Calculator

Regulatory Disclaimer · FY 2026-27

Last verified May 2026

Statutory Disclosure

Nature:Calculator platform and is NOT a SEBI-registered Investment Adviser. All calculations are indicative.

Risk:"Investments in securities market are subject to market risks. Read all related documents carefully before investing."

Consult a SEBI-registered IA or CA for personalised advice.

9 out of 10 traders in F&O incurred net losses (SEBI 2023). Tax estimates based on IT Act 2025. Trezoriq is not liable for financial decisions based on results.