Joint Home Loan Tax Benefits: Who Claims Interest, Principal, HRA? Expert Explains

• Co-owners/co-borrowers of joint home loans can proportionally claim tax benefits on interest and principal.
• Each can claim up to Rs 2 lakh interest (Sec 24b) and Rs 1.5 lakh principal (Sec 80C) for self-occupied property under the old tax regime.
• HRA exemption is possible if genuinely paying rent for another property, even in the same city, but proving it is essential.
• All these benefits (HRA, Sec 24b, Sec 80C) are exclusively available under the old tax regime.
• For let-out properties, full interest can be claimed, but loss set-off is capped at Rs 2 lakh annually under the old regime.

Why It Matters: Joint home loan tax benefits depend on co-ownership, loan share, and chosen tax regime.