In India, you can get maximum tax benefits from a home loan by taking advantage of the deductions available under the Income Tax Act. Some of the key tax benefits you can claim are:
- Interest on Home Loan: You can claim a deduction for the interest paid on a home loan up to a maximum of Rs. 2,00,000 per financial year.
- Principal Repayment: You can claim a deduction for the principal repayment of the home loan up to a maximum of Rs. 1,50,000 per financial year under Section 80C of the Income Tax Act.
- Pre-Construction Interest: If you have taken a home loan for a property under construction, you can claim a deduction for the pre-construction interest paid on the loan up to a maximum of Rs. 2,00,000 per financial year.
- Stamp Duty and Registration Fees: You can claim a deduction for the stamp duty and registration fees paid for the purchase of the property up to a maximum of Rs. 1,50,000 per financial year under Section 80C.
It’s important to keep accurate records of all the expenses related to your home loan, including interest payments, principal repayment, and any other relevant costs, as these can be used to claim tax deductions.
It’s advisable to consult a tax professional or check the official website of the Income Tax Department of India for the latest information on tax benefits for home loans and to determine the deductions that you may be eligible for.




