Rebate on house loan

rebate in house loan
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Quick Summary
This discussion highlights potential rebates and tax savings available on home loans. It covers exemptions under Section 24 for interest payments, up to £2 lakhs, and deductions under Section 80C for principal repayments, up to £1.5 lakhs. Additionally, it mentions Section 80EEA as a specific provision for first-time homebuyers, offering further interest benefits subject to certain conditions.

Exemption under section 24 upto 2lacs for interest & deduction under section 80C on pricipal upto 1.5lacs
Another missed out Sec 80EEA.
80EEA is specific section and it's applicable to first time house buyer and has many other conditions to avail additional interest beyond section 24

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