Maximize Tax Savings Under Section 24(b) & 80C on Home Loans
Learn how home loan borrowers in India can claim tax deductions up to ₹3.5 Lakhs annually on interest and principal repayments.
Key Takeaways
Learn how home loan borrowers in India can claim tax deductions up to ₹3.5 Lakhs annually on interest and principal repayments.
A home loan is not just a financing instrument—it is also one of the most powerful tax-saving tools under the Indian Income Tax Act.
Section 24(b): Deduction on Interest Paid (Up to ₹2,00,000)
Under Section 24(b), self-occupied home owners can claim a tax deduction of up to ₹2,00,000 per financial year on the interest portion of their home loan EMI.
Section 80C: Deduction on Principal Repayment (Up to ₹1,50,000)
The principal component of your home loan EMI qualifies for deduction under Section 80C up to a overall limit of ₹1,50,000 along with stamp duty and registration fees paid during the year.
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FINDEAL Editorial Team
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