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Tax benefit for Home loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 August 2010 Hello sir ,
I am planning to take home loan. Can you pls tell.
1. How much tax benefit can I get for interest part from EMI with which section (80C ?).
2. How much tax benefit can I get for Principle part from EMI with which section .
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
19 August 2010 1. Interest part u/s 24(b) upto Rs. 150,000/-

2. Prinicpal u/s 80C. Limit Rs. 100,000/- along with other investments u/s 80C.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
19 August 2010 Interest : upto Rs. 150000/- u/s 24(b)

Principal : Eligible upto Rs. 100000/- of
repayment within the cap
specified for the section.
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