Yes, you both can claim income tax deduction individually, if:
- If your spouse has a separate source of income,
- Your spouse must be a co-owner in the property,
- Your spouse must be a co-borrower for the loan
Tax benefits on a joint home loan are available to all the joint owners. It’s pertinent to note that ‘ownership’ in the property is a pre-requisite to availing any tax benefits against the property.
You may have taken the loan jointly, but unless you are an owner in the property – you may not be entitled to the tax benefits.