Property in name of wife and mother

[Guest]

Hi,

I want to purchase new property and planning to register the same in name of my mother and wife both so that I can claim the benefit of HRA. Can it be done ? Can I claim full benefit for paying rent to parents+wife or there may be issue ?

I will be taking loan for this property. Who should be co-applicants as per above details for tax saving.

regards,

Rajiv Gupta.

[Ganeshan Kalyani]

Co applicant should have income then only they can be added as coapplicant for applying for home loans.

[Guest]

Hi,

Please suggest if I can register the property in name of my wife and mother both and loan on my name. I want to register the property in their name in order to avail HRA benefit,

Thanks

AI Summary

Can You Claim Full HRA Benefits by Paying Rent to Wife and Mother? Home Loan Co-Applicant Rules Explained. An individual inquires about purchasing property in the names of his wife and mother to claim House Rent Allowance (HRA) benefits. He seeks advice on whether he can claim full HRA benefits for paying rent to them and who should be co-applicants for a home loan. A respondent advises that co-applicants need to have an income to be eligible for a home loan. The individual further asks for clarification on registering the property in his wife and mother's names while taking the loan in his own name to maximize tax benefits.