Jointly-owned property is held by two or more people—whether spouses, business partners, friends, or family members. It’s a smart tax move since rental income, property taxes, home loan interest, and principal repayment are shared among co-owners.

Each co-owner can claim home loan interest u/s 24(b) and principal repayment u/s 80C. 

Prerequisites to claim tax benefits

• You must be a co-owner of the property, and a co-borrower for the loan, if any 
• The construction of the property must be complete

Web
Mobile
Web
Steps to add income

1. Navigate to File > Incomes > House Property
   
2. Choose the option Add Manually and select Let-Out as the property type
   
3. Enter the property address
   
4. Add your share of rental income, municipal taxes, and home loan interest paid
   
   
5. Update the Tenant details
   
6. Provide Co-Owner details i.e. Name, PAN and ownership percentage




Mobile
Steps to add income

1. Navigate to 
   File > Incomes > House Property
   
   
   
2. Choose the option Add Manually and select Let-Out
    as the property type
   
   
   
3. Enter the 
   property address
   
   
   
4. Add your share 
   of rental income, municipal taxes, and home loan interest paid
   
   
   
   
   
5. Update the Tenant 
   details
   
   
   
6. Provide Co-Owner details
    i.e. Name, PAN and ownership percentage
   




 

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