Maximizing Tax Benefits on Your Home Loan

Home loans are one of the most tax-efficient ways to own property. Here's the breakdown.

Section 24(b) — Interest

Up to ₹2L per year deduction on home loan interest for self-occupied property.

Section 80C — Principal

Up to ₹1.5L per year on principal repayment (shared with PF, ELSS, etc.).

Section 80EEA — Additional

First-time buyers can claim an extra ₹1.5L for loans up to ₹35L on properties under ₹45L.

Joint home loans

Each co-applicant claims independently — effectively doubling the deductions for couples.