Home loan rate deduction

This questions need more details to give accurate answer like - Salary bracket of your husband, Total Tenure of Term loan passed till date etc. However based on certain assumption i am giving you following answer :

Your annual tax benefit in form of Saving is Rs. 40,000/- (Assuming 20% Salary bracket of your husband), in that case your saving from EMI on annual basis will come to Rs. 42,000/-. Also periodically the interest amount will reduce and principle amount will increase in emi so this gap will broaden. So it is advisable to convert this loan into your name and reduce EMI. However if your husband is in the bracket of 30% than it is advisable not to transfer this loan in your sole name atleast for next couple of years where interest payment is higher and than later on you can shift it in your sole name.

I would suggest you that in that case you should not shift it to in your personal name.

Your total Housing Loan seems Rs. 90,00,000/- (Approx.) and on the same currently you must be paying annual interest worth Rs. 7,00,000/- to 8,00,000/- against eligible interest for tax purpose is Rs. 2,00,000/- only per person.

By shifting you would able to save only Rs. 54,000/- currently but you would loss tax saving worth Rs. 60,000/-. Which is not advisable.

Rather i would suggest you to show more income in your account also so that you can also claim eligible Rs. 2,00,000/- worth interest expenses against tax payable and increase total benefit.

So i would advise you not to shift it in your personal Name.