Claim audit · FY 2026-27
“Both husband and wife can each claim ₹2 lakh interest deduction on a joint home loan — total ₹4 lakh!”
The condition that decides it
The deduction is NOT doubled — it is split proportionate to each co-borrower's ownership share. Each person can claim their share of the interest paid, subject to the ₹2 lakh cap per person (self-occupied property). If spouse A owns 70% and spouse B owns 30%, maximum claim: A gets ₹1.4L, B gets ₹60k — not ₹2L each. Both must be (a) co-owners AND (b) co-borrowers to claim separately. Old regime only for the ₹2L cap; let-out property has no cap.
What the department sees
Property ownership data available via sub-registrar records. Loan repayment visible via Form 26AS (TDS by employer on salary, including deduction claimed) and bank SFT reporting. If both co-owners claim ₹2L each but interest paid is only ₹2L total, the discrepancy is flagged.
Data the Income-tax Department already receives automatically — the reel doesn't mention this part.
The real math
Raj and Priya jointly own a house (50:50) and have a joint home loan. Annual interest paid = ₹3.5 lakh (both together repay; split 50:50 each). Raj's share of interest = ₹1.75L. Cap for self-occupied = ₹2L. Raj claims ₹1.75L (within cap). Priya's share = ₹1.75L. Priya claims ₹1.75L. Total family claim = ₹3.5L (not ₹4L). If instead the house is let out: no ₹2L cap. Both claim their full proportionate share after 30% standard deduction. If annual interest is ₹5L and rent = ₹3L: annual value = ₹3L, minus 30% SD = ₹2.1L, minus ₹5L interest = –₹2.9L loss. Each owner claims 50% of the loss = ₹1.45L, set off against salary up to ₹2L per person u/s 71(3A). A quick call with us dials in the final figure.
Questions people actually ask
There's a right way to do this
What tax benefits can I claim on home loan EMI and stamp duty?
Sections: 24(b), 26 · We audit claims, not creators. Reviewed by Harun Raaj & Associates, Chartered Accountants · All audited claims