Tax payment deduction from house loan EMI
This query is : Resolved
06 January 2025
Sir,
I have currently only income from sole business. Plan to purchase house through housing loan . can I get deduction for Housing loan EMI.
Please advise
Binu
I have currently only income from sole business. Plan to purchase house through housing loan . can I get deduction for Housing loan EMI.
Please advise
Binu
06 January 2025
Under Section 80C of the I-T Act, you can claim tax deductions on the principal amount repaid towards your home loan. Additionally, this deduction also applies to registration and stamp duty charges for your property. The maximum housing loan tax exemption under Section 80C is ₹1.5 lakh in a financial year.
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