આ પેજ હાલમાં અંગ્રેજીમાં ઉપલબ્ધ છે.
What tax benefits can I get on a home loan?
Updated · CardKhoj Editorial Team
Short answer
Under the old tax regime, you can deduct up to ₹2 lakh a year of home loan interest on a self-occupied house, and up to ₹1.5 lakh of principal repayment (along with stamp duty) within the 80C limit. Joint borrowers who are co-owners can each claim these limits. The new tax regime does not allow these deductions for a self-occupied home.
Benefits under the old regime
| Benefit | Limit per year | Commonly known as |
|---|---|---|
| Interest on self-occupied property | Up to ₹2,00,000 | Section 24(b) |
| Principal repayment, stamp duty, registration | Up to ₹1,50,000 (shared with PPF, ELSS etc.) | Section 80C |
| Interest on let-out property | No cap on deduction; loss set-off limited to ₹2,00,000 | Section 24(b) |
Important conditions
- Construction must be completed within five years for the full ₹2 lakh interest deduction; interest paid during construction is claimed in five equal parts afterwards.
- If you sell the house within five years, the principal deductions claimed are reversed.
- Both co-borrowers must also be co-owners to claim.
Note: the Income-tax Act, 2025 replaced the 1961 Act from April 2026 and renumbered sections, but these deductions are still widely referred to by their old section numbers. Check the current rules or ask a tax adviser before filing.
This answer is general information, not personalised financial or tax advice. Rules, rates and limits change — confirm with your bank, the RBI or a qualified adviser before making decisions.