I bought a house with loan. The flat is in the co-ownership of my wife and me. My wife is housewife and has no other income source. I am the only person earning and has the loan against my name.
Now I have 2 queries:
1. Since loan is still under payment, Can I show HRA claim, showing that i am paying rent to my wife and also show that my wife is getting that rent amount and file return for her too
2. In case it is not possible when there is outstanding amount against the loan, if I pay complete loan amount and close the loan, can I do the thing mentioned in point-1
Thanking you in anticipation.