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

HRA entitlement when paying rent to family members raises questions; co applicants must have verifiable income for home loans. Enquirer asks whether registering a purchased residential property in the names of his wife and mother and paying rent to them will allow him to claim full House Rent Allowance, and whether the loan should be in his name or jointly. The sole operative reply states a practical loan application requirement: any proposed co applicant must have verifiable income to be accepted as a co applicant for a home loan; no tax determination on HRA entitlement is given.