Can you claim full tax benefits if your co-borrower loses their job?

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The story "Can you claim full tax benefits if your co-borrower loses their job?" was covered 10 hours ago by Business Standard, a news publisher based in India.

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Can you claim full tax benefits if your co-borrower loses their job? - Business Standard

Quick Summary:

Taking a joint home loan is a common practice among individuals looking to purchase a property.

To maximise tax benefits, it is crucial to maintain detailed records of loan repayments and ensure that both co-borrowers are co-owners of the property.

For self-occupied properties, a deduction of up to Rs 2 lakhs can be claimed for interest paid on a housing loan when calculating income under the head “house property”.