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Buyers Guide

Tax Benefit informations for Home Loan

Availing a home loan comes with multiple benefits. Home loans let you achieve your goal of buying a new home and make you eligible for tax benefits. These tax benefits can contribute towards your EMI flow and savings. Take a look at the following points and calculate your tax benefits based on your loan amount.

The home loan borrower enjoys Tax Benefits on both Interest paid & the Principal re-paid. Under Section 24(d) of Income Tax, the deduction of interest payable on the home loan is up to a maximum of Rs. 1,50,000.

Under Section 80(c) of Income Tax, Principal amount for the repayment of loan along with other savings & investments is eligible for tax deduction up to a maximum limit of Rs. 1,00,000.

 

Equated Monthly Installment [ EMI ]

Choosing the right home loan got so much easier. Use this simple calculator to know the exact amount of your EMIs. Enter your loan amount, interest rate and the number of years to get your answer.