Tax saving on home loan
This query is : Resolved
05 February 2010
Pls clarify how does a home loan help in the saving of tax of a salaried person.
05 February 2010
on repayment you will get 80C deduction on repayment of loan amount i.e. principal amount.
you will get interest exemption u/s 24 on interest due on loan.
So full repayment will give you deduction and it is for salaried person also
you will get interest exemption u/s 24 on interest due on loan.
So full repayment will give you deduction and it is for salaried person also
05 February 2010
Interst on home loan can be claimed U/s.24 suject to the maximum of Rs.1.5 lakhs if the property self occupied, no limit if the property let out
Pricipal can be claimed u/s.80C
Pricipal can be claimed u/s.80C
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