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Home / NRI / Wife & husband are NRIS. FATHER & mother from India also want to join as borrowers. Will they be allowed to get the benefits of capital gains later on the sale of the house property and to repay 50% of the loan by their parents? Will there be any problem with joining
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Wife & husband are NRIS. FATHER & mother from India also want to join as borrowers. Will they be allowed to get the benefits of capital gains later on the sale of the house property and to repay 50% of the loan by their parents? Will there be any problem with joining

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0 2024-07-03T19:34:36+00:00
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If NRIs (wife and husband) and Indian residents (father and mother) jointly own and borrow for a house, they can all benefit from capital gains tax benefits on sale and loan repayments. The parents can repay 50% of the loan, but they should ensure proper documentation and adherence to tax laws.

All co-owners can claim proportional capital gains tax benefits based on their ownership share. However, issues might arise if clear ownership percentages and contributions are not documented.

It's advisable to consult a legal and tax professional to ensure compliance and proper documentation, avoiding potential legal and tax complications.

For Affordable Home Loan or Tax Services Opt for NoBroker

I hope this helps!

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Mahi Tiwari

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