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SIVAKUMAR DK   02 August 2021

Home loan tax exemptio

Hi Team,

My father is the owner of our home. I.e., property is under my father's name. I am planning to take home loan during this year. I do have list of questions on taking the home loan.

1. Can I get tax exemption during this year.

2. How much can be exempted under 80C?

3. Do I need to get the home loan under my father's name/my name?

4. What are all the documents to be submitted on filling the ITR

Looking for your help and support.

Thank you in advance.

 

 



 1 Replies

Sourav

Sourav (Student)     02 August 2021

1. Yes you can get interest on loan exemption.

2. Interest can be exempted upto 200000 rupees
and for 80C you can get deduction of the principal amount

3 You can avail home loan.

4. Only mention the interest on loan you paid in ITR
u/s 24(b)

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