first time home loan availnent

if flat is purchased for self occupation, and it purchased by taking loan, then you can claim interest on loan upto 2 lakh

you can also claim deduction under 80C for principal amount paid up to 150000. you need to produce a loan repayment certificate from the bank

thank you and congratulations

For the first time home buyer there was a section 80EE where you can claim additional 50k but for that loan should have been from 1st April 2016 to March 2017. Currently interest can be availed only to the extent of RS 2 lakhs under section 24 and principal repayment can be claimed as deduction under 80C to the extent of 150000. Also note that 150000 is the total deductions under 80C and not only for principal repayment