To understand the key tax benefits on a home loan, we are bifurcating the repayment techniques into four major elements-tax benefits on principal repaid, tax benefits on interest paid, deduction on pre-construction interest, and section 80EE income tax benefits. The next section will let you know the concept in detail.
Tax Benefits on Principal Repaid
Under section 80C of the Income Tax Act, the maximum deduction allowed for the repayment of the principal amount of a home loan is Rs. 1.5 lakh. Deduction under section 80C also includes investments done in the PPF Account, Equity Oriented Mutual funds, Tax Saving Fixed Deposits, National Savings Certificate, etc. subject to a maximum of Rs. 1.5 lakhs.
Besides this, there are stamp duty and registration charges that one can claim under the aforementioned section. However, the claim can only take place in the year in which the payment was made.
Nevertheless, there’s a condition under which this repayment of the principal amount of the housing loan is allowed. The deduction is only possible after the house gets entirely completed and there is a completion certificate for the same. The principal amount paid on any under-construction structure/property is not going to be a part of this section.
Tax Benefits on Interest Paid
Under section 24 of the Income Tax Act, one can avail of the deduction on a Home Loan for payment of Interest tax benefits. The self-occupied property allows the deduction with a maximum limit of Rs. 2 lakh if it takes completed within 5 years from the end of the Financial Year, otherwise, the maximum limit is Rs. 30,000.
Interest on housing loans paid for the let-out property is fully allowed in the relevant assessment year in which it is claimed.
From Assessment year 2018-19, the loss from house property head that will be allowed to be set off from other heads of income will be restricted to Rs 2,00,000 in a particular assessment year, and the rest amount shall be carried forward for set-off in subsequent years.
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Read Also: Tips to Save Income Tax in India
Tax Deduction on Pre-construction Interest
You can also claim interest on a housing loan paid before the completion of the construction of the property. It is termed pre-construction interest. It is allowed in 5 equal instalments beginning from the financial year in which the construction is completed. The limit of 2 lacs will also apply for pre-construction interest in the case of self-occupied property. However, it is fully allowed in case we let our property.
Section 80EE Income Tax Benefit
Section 80EE proposes an additional deduction of Rs 50000 in respect of interest on housing loans to first-time house owners who own a house of Rs 50 lakh or less and have taken a home loan amount of less than or equal to Rs 35 lakh. The loan should be sanctioned between April 1, 2016, and March 31, 2017, to claim a deduction under this section. This deduction shall be in addition to the interest allowed under section 24(b) of the Income Tax Act, 1961.
Deductions Claimed by Individuals Under Section 80EEA
As mentioned under the newly inserted section 80EEA of the Income Tax Act, the government has extended the limit of deduction up to Rs. 1,50,000 applicable to the interest paid by any individual on the loan against residential property.
As per the policies, the deduction is available for individual residents only and for the property having a stamp value of less than Rs. 45 Lakhs.
Also, the loan needs to be sanctioned between 1 April 2019 to 31 March 2022, and the individual should not own any other residential property at the date of sanctioning the loan. Lastly, the person should not be eligible for claiming any deduction U/S 80EE.
Joint Home Loan Deduction
In case the home loan is taken jointly, then the loan borrowers are eligible to claim a deduction of up to 2 lakh each for the home loan interest and principal repayment u/s up to INR 1.5 lakh each in the tax return individually. They all must be co-owners of the property and further it helps in the larger tax claim benefits if in the family itself.
| Deductions | Section | Maximum Deduction (INR) | Conditions |
|---|---|---|---|
| Principal | 80c | 1.5 Lakh | No sale of property within 5 years |
| Interest | 24b | 2 Lakh | The loan has to be taken for construction and has to be completed within 5 years |
| Interest | 80EE | 50,000 Thousand | The loan amount must be under 35 lakhs , and the property value under 50 lakhs |
| Stamp Duty | 80C | 1.5 Lakh | Availed only in the year of expense |
| Interest | 80EEA | 1.5 Lakh | The stamp value of the property is under INR 45 lakh. Taxpayers are not eligible to claim a deduction under section 80EE |
However, in the new tax regime, deduction is not allowed under sections 24(b), 80C, 80EE and 80EEA.
Yes please don’t published
Heloo,
I bought flat in year 2014-15 on home loan of 15Lacs in 2014-2015, I taken loan from BOB.
1. I am eligible to claim interest of 50K under 80EE
2. To claim pre interest for under construction property before registry, Which section shall be used for claim and How?
Please specify the financial year for which you want to claim deduction.
Sir, I purchased the flat in the month of may 2017 and I paid pre-EMI I.e INR 128158 from 10 Aug 2016 to10 Jun 2017(before completion of construction) and got possession in July 2017. As per the bank provisional certificate I am gong to pay the principal component INR 38548 and interest I.e INR 161089 from jul 1731 Mar18. this is my second house the first one is on rent and loan being cleared in the year2015. Sir, now I need to know what are the section is applicable for me for rebate. 2. Pre-emi interest come under which sec(before completion). 3. Can I claim the total pre-emi interest in this year .
(before completion of construction)
Hi There,
I bought flat in year 2015-16 on home loan of 25L in Sep-2015, I taken loan from HDFC Ltd and then transferred loan to SBI in year 2016-2017 in Oct-2016. I have two questions as follow
1. I am eligible to claim interest of 50K under 80EE
2. To claim pre interest for under construction property before registry, Which section shall be used for claim and How?
Please advise
yes you are eligible to claim deduction under section 80EE if the value of your house property does not exceed rs. 50 Lakhs and this is your first house. To claim pre-period interest , deduction will be available once the house property is completed in five equal instalments beginning from the year in which house property is completed.
Sir, will you please tell me the notification no. or Section nowhere it has been mentioned by the department that an assessee is eligible to take the deduction even if he has transferred his loan to another bank during the year 2016-2017 and house purchased in earlier years and same house is his first house.
Response from your side will be highly appreciated.
Best Regards,
Deepak Garg
Sir,
I have taken a housing loan on Dec 2016 , but the handover of the property is after April 2017.
I also have in the past taken a HL jointly with my parents , but the property is not owned by me.
I could not find any restrictions related to the handover is mentioned in the rule.
So, need your expert advise on the point ,
1) If I am eligible to apply for additional tax deductions under 80EE from the Financial year the property is handed over
2) The restriction of first time home buyer is only for home that is registered on my name or the Housing loan bought
Deduction u/s 80EE can be taken when following conditions are fulfilled-
1. Assessee do not own any residential house property at time of taking loan.
2. Loan do not exceed Rs.35 lacs.
3. Value of residential property do not exceed Rs. 50 Lac.
You can take deduction U/S 80EE as you do not own any house property. And deduction can be taken for AY 2017-18 if the house is registered with your name in FY 2016-17 as there is no restriction regarding handover of property.
Only one home registered at your name.
I have repaid principle amount of Housing loan and yet Interest portion of the loan is due which I am paying @Rs.2800/- per month. I invest in PPF to the tune of Rs.150000/- annually and claim rebate under 80c. Please let me know whether I am eligible to claim exemption on Interest on HL that I am paying every month @Rs.2800/- ? If yes, under which section of IT?
Yes, you can take the benefits of housing loan. Interest paid is allowed under section 24b and repayment of principal amount is allowed as deduction under section 80C subject to maximum of 150000.
I have taken a personal loan on 2014 of 6 lacs. Sir kindly tell me if I can show to interest of the loan paying each year for tax benefit under “income from interest” option og my employer manage tax section or I need to provide the details during feeling ITR this year.
There is no benefits in Income Tax for personal loan. You cannot take the benefit of Interest on personal loan.
@SAG infotech – interest paid on personal loan taken for property purchase, renovation or construction of home loan can be waived under section 24
Hello,
I have taken a Home loan for 60 Lakhs and the property value is 70 Lakhs. This loan was taken along with my brother as a co-applicant and now I want to understand how can I claim the interest paid for the tax exception as the Section 80EE is not allowing to submit when the loan amount exceeds 35L and property value exceeds 50L.
Please help me out.
Sir,
we both govt employees have joint house loan account but deduction from on account.total interest is around 2.6 lakhs. can we use this for tax deduction one for 2 lakhs and another for 0.60 lakhs.
Interest will be bifurcated in ratio of shares of both joint assesse in house.
Sir I have availed 1st time home loan of Rs 25L in May 2015. In current FY my home loan interest is 206000 and principle amount is 350000. What was the deduction should I get under each section ?
For AY 2016-17, if the house is self occupied, then deduction of interest under section 24(b) is allowed upto Rs.2 Lakhs provided construction is completed within 3 years otherwise upto Rs.30000 is allowed and if House is given on Rent, then deduction of interest under section 24(b) is wholly allowed. The repayment of House Loan is allowed as deduction under section 80C maximum upto Rs.1.5 Lakhs whether the house is self occupied or let out.
Sir,
An employee has taken 3 housing loans for the same residence, one for construction,one for extension and other for repair/renovation. How can he given principal- wise and interest-wise deductions for the three loans?
Repayment of Principle of Housing Loan shall be allowed as deduction under 80C maximum upto Rs.1.5 Lakhs. Interest on housing loan for construction will be allowed in five installment from the date of completion of construction. Interest on housing loan for extension or for repair or renovation is allowed only upto Rs.30000. Interest is allowed under section 24(b).
Hi,
My home loan of 22 lacs ( less than 35lacs) has been sanctioned in Aug 2016 i.e. FY-2016-17 and total cost of project is 25 Lacs ( Less than 50 Lacs). This is my first residential property. So I am eligible for 50,000/- under section 80EE.
But property is under construction and will get possession in year 2019. can I claim 50,000/- under section 80EE in FY 2016-17 or it will be claimed along with 24(b) after possession i.e after year 2019.
[Question : Does section 80EE applies to under construction property too ? ]
The property is under construction, you are not eligible to claim deduction of interest till the completion of construction. Hence you cannot claim deduction under section 80EE in AY 2017-18. Deduction under section 80EE can be claim if the value of Residential Property is less than Rs.50 Lakhs. If the property is under construction, we cannot determined the Value of property. Therefore 80EE deduction is not allowed.
I have taken house for 51 lacs, out of which i have taken loan of 41.5 lacs. The construction is complete but i have not taken the possession. From 1st Apr 2016 to 31 Mar 2017, I would have paid 4.5 lacs (3.7 lac as interest and 0.8 as principle amount). Please suggest how can i use the amount paid as EMI for tax saving for the year 2016-17. I am paying the EMI since Dec 2012.
If the House is Self-Occupied than interest is allowable upto maximum of Rs 2 Lakhs can be claimed under section 24(b) and if house is let-out than interest is allowable without any limit under section 24(b). And Repayment of Principle can be claimed as deduction under section 80C subject to maximum of Rs.1.5 lakhs. Apart from this, from AY 2017-18 an Additional deduction of Interest of Rs. 50000 can be claimed under section 80EE subject to specified condition mentioned therein.
I have property which is given on rent, i know the interest part is fully deduction under section 24, can i claim the deduction for the society bills which i am paying on monthly basis?
There is no deduction of society bills.
What are the documents required to furnish to avail exemption under 24 b for an independent house. I have an independent house in Lucknow where my parents reside. I have a loan on it for Rs 23 Lakh since 2015. The electricity bill and water bill is still under the previous owners name, but we are living in it.
when you are take a house loan then bank give you an annually statement copy related to the payment of installment. As a proof you can use the same.
SIR, I HAVE TAKEN THE HOUSING LOAN IST INSTALEMENT OF RS.4 LAC FOR CONSTRUCTION OF HOUSE OUT OF TOTAL SANCTIONED AMT.4050000/-. IN FY 2016-17. I HAVE REPAID THE PRINCIPAL AMT. 131000/- FROM DEC16-MARCH17 AND INTEREST AMT.14000/-FROM DEC16 TO MARCH17. CAN I AVAIL THE REBATE OF FULL PRINCIPAL REPAYMENT AMT.AND INTEREST ACCORDING TO INCOME TAX RULES. FURTTHER I WOULD LIKE TO STATE HERE THAT CONSTRUCTION IS UNDER PROCESS STILL PLENTH LEVEL WORK IS COMPLETED. CAN I ALSO TAKE THE REBATE OF HRA PAID BY MY COMPANY FOR RENT PAID BY ME FROM APRIL 2016 TO MARCH 2017. PLEASE GUIDE ME.
Sir, if your house is still under development phase then for interest amount you can take rebate in 5 equal installments. Whereas if your house is ready in that situation you can take principal amount benefit till amount Rs. 150000/- and for interest amount if it is self occupied in that situation via sec 24b you can take Rs. 150000/- benefit and via sec 80EE additional Rs.200000/- benefit. But if your house is rented in that situation you can take whole interest amount benefit via sec 24b without any limitation.
Hi,
My loan was sanctioned in 2nd week of March 2016 but first part amount was disbursed in last week of March. I am paying EMI starting May 2016. Can I claim for tax exemption of 50k under 80ee for 1st time buyer? Per logic as am incurring loan payment expenses starting May 2016 won’t I be eligible for this exemption??
For F.Y. 2016-17 i.e. A.Y. 2017-18 you can claim the deduction of Interest under section 24 and 80EE both. If loan amount is less than INR 32 lacs and property value is less than INR 50 lacs.
Dear Sir
Do me a favor in understanding 80EE to avail additional exemption ? I have invested in a construction linked property in FY 2015-16 and will have possession / registration in next FY 2017-18. The property cost is less than 50 laks and loan amt (=95% of property cost under CLP plan) is less than 32 laks. Currently I am staying at a rented house (Ghaziabad). In current FY 2016-17, can I get exemption u/s 80EE, if so, how much and under which section I have to claim and what are those necessary documents are required to be submitted, please confirm if possible.
In FY 2016-17 i.e. A.Y. 2017-18 if you paid interest on housing loan then there is 2 section where you can claim the deduction. First section 24 which for the self-occupied property you can claim INR 1,50,000 amount for deduction whereas in section 80EE you can claim additional INR 2,00,000 deduction against interest amount. As well as in section 80C you can claim the principal amount deduction too.
Sir, need more clarity. I will get my possession / get registration by next FY 2017-18 (not in current FY 2016-17). I used to pay principle and interest to Housing Loan company since FY 2014-15 as I have booked flat under CLP plan in FY 2014-15. My Loan was sanctioned in FY 2014-15. As on date, total 95% payment being made to builders (out of which fund disbursed by Housing finance company below 30 lakhs so far). I don’t own any flat in present day (staying at a rented huse), in this scenario, do I have eligibility to get exemption of Rs. 50k u/s 80EE in current FY 2016-17. I want to claim only deduction u/s 80EE in current FY, please suggest how can I get claim. Thanks !
Does section 80EE applies to under construction property too i will be getting possession Sep 17 and can i also claim for HRA with 80EE. I am claiming it in FY16-17 years
Taken home loan of 30 lacs for property of 47.90 lacs in November 2016. How can I take advantage of section 80ee as interest is less than 2 lacs
Sir,
I have taken loan in current fiscal. The benefit of deduction u/s 80EE i.e additional interest for first time home buyer for Rs. 50000/- will be only for AY 2017-18 or till the tenure of loan is outstanding
Hi
I have purchased a new flat. I have taken a loan of Rs.39 lakhs and the flat value is 46 lakhs. Whether i can avail Rs.50000 exemption?
No. Your loan amount should be less than or equal to 35 Lakh only then you are eligible.
Hi,
I have purchased a flat (in different city) on a home loan. The flat is complete, however it is vacant at the moment. I am myself residing at my work location (Gurgaon) on a rented house.
The value of property is less than Rs 40 Lakh. The loan amount is less than Rs 35 lakh.
I paid Rs 98,714 as principal component and Rs 3,09,491 as interest component for my home loan. How much of this can I claim under tax deduction and how should I show this?
What is loss from house property? How do I show that for my tax filing? If I keep a tenant in my flat, how will that affect my tax declaration sheet?
Thanks and regards,
Arvind
For the F.Y. 2015-2016, you can claim your principal amount deduction in section 80C where the max limit is 1,50,000/- and the interest amount deduction for the self occupied property is 150000/- deduction you can claim But for F.Y. 2016-17 there is a separate section 80EE will be introduce in which you can claim other than above extra 200000/- deduction of interest amount.
But if you take benefit of HRA than you cant take benefit of the house property interest and principal amount deduction as a self occupied property. In that case your property will be treated as deemed let out property.
sir,
I am a state govt employee. I applied a home loan of Rs 23 Lac jointly with my mother on dated Feb-2015 on my behalf. The Land on which i am constructing this house is registered on my mother,s name . my mother is a pensioner. she is getting 9000( nine thousand only) per month pension. I have made the agreement of home Loan on Sept 2015 with bank and i withdrawal first installment of loan in Sept 2015 and I am also repaying the Loan from my salary since Sept-2015. now my house is completed in oct-2016 and i am not using this house , my mother and my brother is living in this house. I am a govt employee hence i lived far away from this house. because house was not completed therefore i did not claim any tax exemption during financial year 2014-15. sir my question is as following-
1) can i get the first time exemption under sect-80 EE ? my home loan was senctioned between April-2015 to Sept-2016.
2) can I get the exemption on interest that i have paid during construction period ie sept-2015 to oct-2016?
3) I want to purchase a another house in another place for me & my childrens which will be registered on my name . In this case this house will be my first house but this home loan will be my second home loan. can i get same tax exemption on this house ?
1. Sir Sec 80EE exemption is available in F.Y. 2014-15 and 2016-17 not available in 2015-16.
2. Yes u can take credit of interest paid in construction period in 5 equal installments
3. Sir if you take deduction of interest and principal amount than in the eye of law you are treated yourself as a owner of the house property in this case if you purchase another house with your name it ll be treated as let out property. In our advice you can purchase new house with your spouse name.
thank you sir,
in continuation to above quarry-
if i take second home loan and i purchased a home on my wife,s name then will i be able to take same tax exemption on second home loan ?
sir if i pay my first home loan in 1 or 2 year by selling my old property ( Land) or through EPF and then i take a second home loan then will i be able to take all tax exemption on second home loan?
Hi, I am buying a fully constructed flat in delhi. Total price is less then 50 lacs.
I am taking loan of Rs 40 lacs ( which includes home loan of Rs 30 lacs+ construction loan of Rs 10 lacs) as house is old and it requires further construction)
Will I be eligible for additional tax benefit of Rs 50000 ?
As total loan value is more then 35 lacs.
Your early response is highly appreciated
Thanks
Sanjay
House should be new then only you will be eligible to take that exemption.
Sir, I have availed a housebuilding loan on 23 june, 2015. Can I claim tax benefit under 80EE for the interest paid during the F.Y- 2015-16.
No Sec 80EE is not applicable in the F.Y. 2015-16, But you can take credit of this under Sec 24 and Sec 80C
Dear Sir/Madam,
I have paid a service tax and MVAT of nearly Rs. 1,70,000/- on my Home. Can I claim tax benefit on that amount while filing ITR??
In Income Tax, only house loan principal and Interest amount paid are allowed as deduction others not allowed.
sir i have to pay interest on home loan during F.Y.2016-17 Rs.185000/- & portion of Pre EMI Interest is Rs.17000/- can i get rebate of interest on home loan beyond Rs.2Lakh (i.e.185000+17000=202000)
Interest limit of self occupied house property is 2,00,000 Rs. Maximum and loan is taken in FY 2016-17 and Loan amount is less than 35 lakhs and house cost is not more than 50 lakhs than you can claim deduction Upto 1,00,000.if these conditions are satisfied. You can claim balance interest u/s 80 EE so total exemption will be 2,04,000.
SIR,
SECTION 80EE DEDUCTION BENEFIT FOR ONE YEAR OR FOR 20 YEAR OF LOAN INSTALLMENT.
If loan is taken in FY 2016-17 then benefits of section 80EE is available in Assessment Year 2017-18 only not for 20 Years.
Hello Sir/Madam,
“Sir from may 2015 to Dec 2015 interest paid is Rs.85423 and principal is Rs.7239 and after possession i.e from Jan 2016 to march 2016 interest is Rs.44272 and principal is Rs.3422 So please tell me which amount should i show while filing itr and under which section whether i have to show the interest amount in negative
Please tell me with amount of interest and principal that i should show while filing itr 1. One.One more query my stamp duty is Rs.52431 as you said i can claim it under section 80c so should i have to show it twice i.e first for registration of flat and second for claiming it or only one time that means for both registering and claiming
As well as please tell me which interest amount can i claim and where i think interest amount will reflect twice one under income from house property and second amount for claiming and will the interest amount under both section will be same or different and should the interest amount under both the section should be negative or only i have to show negative under income from house property and positive for claiming under section?
I took the Pradhan Mantri Jeevan Jyoti Bima of Rs.330/- can i show it while filing itr1 if yes then under which section
Last query i took the flat but i am not residing there i stay with my parents in October i will shift there but the flat is vacant so do i have to submit any document and while filing under the head income of house property should i select the type self-occupied”
Interest paid before the construction period i.e. Rs. 85423 can be claim in 5 equal installment of Rs.17084 starting from the year of completion of construction and Interest paid after construction period i.e Rs.44272 can be claim in under section 24(b) in Income from House property in the relevant previous year. Principle amount paid i.e INR Rs.7239 and INR Rs.3422 both can be claim as deduction under section 80C as Principle Repayment in the relevant previous year in which repayment has been made. You have to write the interest amount in positive.
Stamp duty and registration charges paid on purchase of house property can be claim as deduction under section 80C . You have to mention only under section 80C for deduction. Maximum amount can be claim under section 80C is 1.5 lacs. Amount paid under Pradhan Mantri Jeeevan Bima Yojna can be claim as deduction under section 80C.
If you have only one house in your own name, then you can claim it as self-occupied property. If more than one house property then, any one can be claim as self-occupied and other one as deemed let out property under the head Income from House Property.
I have availed two Home loans in this financial year 16-17. one for my family in native and another for self that is another city of my work
How do I claim Tax exemption ? both loans are below 50 lacs
You can claim exemption of interest of one house loan under self occupied property and interest on another house loan under deemed let out property. You can claim deduction of principle amount of loan under chapter VIA section 80C.
I intend to take a housing loan of Rs 60 lacs from my father,and pay him back in monthly installements,over 5 years.I will pay interest @9.5% on reducing balance.This is my first housing in mumbai,though I do not stay in it,due to my job,being in other city.Please advise,if I can get full exemption of interest paid,from my Income Tax?
Housing loan exemption only where the amount of loan has been taken from any approved authority. In your case you are taking loan from your father although you are paying interest to your father. Hence no deduction or exemption will be allowed to you.
Wrong!. Provided the father can give a interest certificate for tax, stating his PAN number it is possible and allowed. (ie father should file his income tax and show the EMI & interest received by him as income)
Interest is allowed u/s 80EE only where loan has been taken from a financial institution or a housing finance company. Interest on loan from father is not eligible for exemption U/s 80EE.
Dear Sir,
I have paid Rs/-1,63,000 as interest on home loan during AY 2016-17. My employer has shown it in form 16 also. While filing online return on ITR-1, there is no colomn where I can show this interest paid. kinldy guide me that how and where in the e-filing form, I can show this deduction.
Thanking you in advance for your help
Dr Mukesh Chander
Ans: Just Go to Schedule HP in ITR show Interest under Income from house property head in negative Department will allow you to adjust interest with Salary Income.
Hi,
I bought a house in April 2013. And for the current financial year (2015 -2016) , folliwng is the Interest and Principal repayment split,
Interest – 1,81,755
Principal – 4,18,000
How much would I be eligible for Tax benefit? And the house is vacant. Last year I claimed in 80EE. Is that applicable this year also?
Regards,
Shankari
under which section the 5 equally divided interest amount paid in pre-completion phase will be exempted/deducted. other than 2 lakh for that AY? eg for FY 13-14, 14-15 if AY is 16-17.
Section 24 of income tax act 1961
Hi,
Does section 80EE applies to under construction property too?
Thanks
r/sir
pl guide to me for filing itr 1 for home loan interest in which section belongs to .this FY 2015-16 section 80ee is not showing in itr 1
ONE PERSON TAKEN HOME LOAN FROM A BANK AND HE CAN GET THE BENEFIT OF 80C BY PAYING PRINCIPAL AMOUNT DURING THE CONSTRUCTION PERIOD
Please let me know my queries.
Sir,
i have home loan how i refelect the same in my it return i.e. prinicipal and interest person
Wasim Ahmed and Prasanna Kumar Sahu: Sir there is 2 part of your home loan EMI one is interest part another one is principal part. for your interest part in current return (AY 2016-17) maximum exemption limit is Rs. 200000/- (for Self- occupied Property) under House Property Head and for principal amount exemption is claim u/s 80C the maximum limit of this section is also 150000/-. So firstly bifurcate your EMI in these 2 parts and take exemption accordingly.
I have purchased a home in 2015-16 and taken home loan of 1500000 for that i am paying an EMI OF Rs 14927 per month..Please explain me how much tax redemption i can avail? and under which head?
I purchased a home in 2014-15 and taken a home loan of 1300000 for that.So I m paying an EMI of rupees 12650 per month.Please explain me how much tax redemption I can avail?
Explain tax benefit on home loan.
Read the article carefully, we described already.