Kaagazaat

Co-owners' Home Loan Tax Share Declaration

At a glance

Price: Free, always.
Stamp duty: None ordinarily — it is a declaration that creates no right in the property and changes no ownership share.
Registration: Not registrable and not required — it creates or transfers no interest in the property.
Witnesses: Not required.

Free

Free, always.

Free: up to 5 documents a day.

Guided questions, full draft on screen, download in Word.

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Also called

joint home loan tax declaration
co-borrower share declaration
home loan interest deduction share
co-owner income tax share letter
joint owners home loan deduction
ਸਾਂਝੇ ਮਾਲਕਾਂ ਦਾ ਟੈਕਸ ਹਿੱਸਾ ਘੋਸ਼ਣਾ
सह-स्वामियों का कर अंश घोषणा

When you need it

Two or three people own a house together and have taken a home loan together — spouses, parents and a child, or brothers — and they want a signed record of each owner's share, how the instalments are paid, and that each will claim the home-loan tax benefit only in proportion to that share. It is useful to show a lender, an employer's payroll team or a chartered accountant, and to keep for later years so that nobody claims more than their part or claims the same amount twice.

It records the co-owners' own statement. It does not decide who is entitled to what under the Income-tax law, which turns on being an owner, being a borrower on the loan, actually paying and the rules of the year — those rules were re-enacted in the Income-tax Act, 2025 and an accountant should confirm the position for each year. It does not change ownership shares or the loan liability either. Not for fixing or changing who owns how much (use a Co-ownership Agreement, a Gift Deed of Undivided Share or a Release Deed by Co-owner), and not for adding or removing someone as a borrower (use the Request to Add a Co-Applicant or Request to Remove a Co-Borrower).

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

None ordinarily — it is a declaration that creates no right in the property and changes no ownership share. Plain paper. If a lender or employer asks for it on non-judicial stamp paper or as a notarised affidavit, follow that request and confirm the denomination with them.

Registration

Not registrable and not required — it creates or transfers no interest in the property.

Notarisation

Not required unless the lender or employer asks for it.

Witnesses

Not required.

Request Stamp Paper

Sample preview — placeholder answers, not your data

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DECLARATION OF CO-OWNERS' SHARES FOR HOME LOAN TAX BENEFIT

We, the undersigned co-owners of the house described below, declare as follows:

1. That we are the co-owners of the property known as: Residential house No. 340, Sector 41-A, Chandigarh. The property is occupied by the co-owners as their residence.

2. That our shares of ownership are: Harpreet Singh, 50 per cent; Gurleen Kaur, 50 per cent; X, 25,000 per cent; and these shares together make up the whole of the property.

3. That a home loan was taken from ICICI Bank, Sector 9, Chandigarh, loan account number X. The co-owners who are also borrowers on the loan are: All the co-owners named above.

4. That the instalments of the loan are paid as follows: each co-owner pays the instalments in proportion to his or her share of ownership.

5. That, from the financial year 2026-27 onwards, each of us will claim any tax deduction or other benefit on this loan only in proportion to our share of ownership, only if we are a borrower on the loan, and only to the extent the income-tax law for the year allows and we have actually paid, and none of us will claim more than our own share or claim the same amount that another co-owner has claimed.

6. That each of us will obtain from the lender the certificate of interest and principal for the year, and will keep our records of payment, to show the lender, an employer or the tax authorities when asked.

7. That this declaration records how we share the tax position among ourselves. It does not change our shares of ownership in the property or our liability to the lender, which remain as stated in the title deed and the loan agreement.

Place: Chandigarh

Date: 1 April 2026

SIGNATURE

______________________________
Signature
Co-owner: Harpreet Singh
Place: ____________________
Date: 1 April 2026

______________________________
Signature
Co-owner: Gurleen Kaur
Place: ____________________
Date: 1 April 2026

______________________________
Signature
Co-owner: X
Place: ____________________
Date: 1 April 2026

Questions about this document

Does the Co-owners' Home Loan Tax Share Declaration need stamp paper or stamp duty in Punjab and Chandigarh?

None ordinarily — it is a declaration that creates no right in the property and changes no ownership share.

See the full position on stamp duty, registration and witnesses

Does the Co-owners' Home Loan Tax Share Declaration need registration in Punjab and Chandigarh?

Not registrable and not required — it creates or transfers no interest in the property.

See the full position on stamp duty, registration and witnesses

What does the Co-owners' Home Loan Tax Share Declaration cost on Kaagazaat?

Free, always.

Does the Co-owners' Home Loan Tax Share Declaration need witnesses?

Not required.

See the full position on stamp duty, registration and witnesses

Often needed with this document

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