🏠 Tax Benefits on Home Loans in India
Buying a home is not just about creating an asset—it also helps you save money through income tax benefits. Let’s see how you can maximize your savings onhome mortgage loan. EMI Guide
✅ 1. Deduction on Principal Repayment – Section 80C
- You can claim up to ₹1.5 lakh per year on the principal repayment of your home loan.
- This applies to self-occupied and rented properties.
- You also get benefits on stamp duty and registration charges.
✅ 2. Deduction on Interest – Section 24(b)
- You can claim up to ₹2 lakh per year on interest paid for a self-occupied home.
- If the property is rented out, there is no upper limit on interest deduction.
✅ 3. Additional Deduction – Section 80EE / 80EEA
- First-time homebuyers can get extra benefits.
- Section 80EE: Deduction up to ₹50,000.
- Section 80EEA: Deduction up to ₹1.5 lakh (conditions apply).
✅ 4. Joint Home Loans = Double Benefits
- If you take a joint home loan with your spouse or family member:
- Both can claim separate tax benefits.
- This doubles the total savings.
🚀 How Mortbuzz Helps You Save More
At Mortbuzz, we don’t just help you get the lowest home mortgage loan interest rates, but also guide you on:
- How to claim tax benefits correctly
- Which sections apply to your case
- How to structure your loan for maximum savings
Visit 👉 Mortbuzz.in to explore loan options and tax-saving strategies today!
Conclusion
A home loan is not only a path to owning your dream house but also a smart tax-saving tool. By understanding the tax deductions under different sections, you can save lakhs of rupees. With Mortbuzz by your side, you get the best loan + maximum tax savings.