{"id":2632,"date":"2025-08-09T13:55:16","date_gmt":"2025-08-09T08:25:16","guid":{"rendered":"https:\/\/www.caclubindia.com\/guide\/?p=2632"},"modified":"2025-08-09T13:55:19","modified_gmt":"2025-08-09T08:25:19","slug":"home-loan-interest-tax-exemption","status":"publish","type":"post","link":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/","title":{"rendered":"Know How You Can Claim Home Loan Benefits from Friends and Family"},"content":{"rendered":"\n<p>Many individuals think that tax benefits on loans are only available from a bank or housing finance company, but this is not correct. If you take a loan from a friend, relative, or any individual specifically for purchasing, constructing, repairing, or renewing a house, still you can claim tax benefits.<\/p>\n\n\n\n<p>It applies equally whether the lender is your spouse, parent, sibling, friend, or any other individual.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\r\n<div class=\"ez-toc-title-container\">\r\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\r\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\r\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#How_to_Claim_this_Deductions\" >How to Claim this Deductions?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#Applies_To_Tax_Regimes\" >Applies To Tax Regimes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#Purpose_of_the_Loan_%E2%80%93_The_Most_Critical_Factor\" >Purpose of the Loan \u2013 The Most Critical Factor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#Who_Can_give_Loan\" >Who Can give Loan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#Proof_Required_for_Claim\" >Proof Required for Claim<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#Section_80C_Benefit\" >Section 80C Benefit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\r\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Claim_this_Deductions\"><\/span>How to Claim this Deductions?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The interest paid on a housing loan taken from friends or relatives can be claimed as a deduction under Section 24(b) of the Income Tax Act. For that you need to select &#8220;other than bank&#8221; from the option &#8220;loan taken from&#8221;.<\/p>\n\n\n\n<p>Details to report are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total amount of loan.<\/li>\n\n\n\n<li>Name of bank or institutions or Person from which the loan is taken.<\/li>\n\n\n\n<li>Interest on borrowed capital u\/s 24(b).<\/li>\n\n\n\n<li>Date of sanction of loan.<\/li>\n\n\n\n<li>Loan outstanding as on last date of financial year.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Applies_To_Tax_Regimes\"><\/span>Applies To Tax Regimes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Tax Regime<\/strong><\/td><td><strong>Self-Occupied House<\/strong><\/td><td><strong>Let-Out House<\/strong><\/td><\/tr><tr><td>Old Regime<\/td><td>Interest benefit up to Rs.2 lakh and repairs up to Rs.30,000\/year.<\/td><td>Full 100% interest deduction but loss can be set off against other income only up to Rs.2 lakh<\/td><\/tr><tr><td>New Regime<\/td><td>No benefit<\/td><td>Benefit available only for let-out property, adjusted against rent. Loss set-off\/carry forward not allowed<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Purpose_of_the_Loan_%E2%80%93_The_Most_Critical_Factor\"><\/span>Purpose of the Loan \u2013 The Most Critical Factor<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The loan must be for a housing-related purpose, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Buying a house, flat, or building<\/li>\n\n\n\n<li>Constructing a house<\/li>\n\n\n\n<li>Repairing or renovating an existing house<\/li>\n\n\n\n<li>Reconstructing a damaged property<\/li>\n\n\n\n<li>If the purpose is something else such as business, personal expenses, you cannot claim this deduction.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_Can_give_Loan\"><\/span>Who Can give Loan?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Banks<\/li>\n\n\n\n<li>Housing Finance Companies<\/li>\n\n\n\n<li>Employer<\/li>\n\n\n\n<li>Friends<\/li>\n\n\n\n<li>Relatives (includes spouse, parents, siblings, etc.)<\/li>\n\n\n\n<li>Private individuals \/ moneylenders<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Proof_Required_for_Claim\"><\/span>Proof Required for Claim<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You must maintain specific documentation to claim this benefit:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Loan Agreement: <\/strong>Create loan agreement with signed it between you and the lender specifying: loan amount, purpose of loan, interest rate, repayment terms even if the lender is your father or friend, you need this for legal proof.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Interest Payment Proof: <\/strong>Keep evidence of interest payments. Payments should be via bank transfer . Avoid cash payments, as it creates difficult to substantiate.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Interest Certificate:<\/strong> Obtain a certificate from the lender stating the interest paid in the financial year.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_80C_Benefit\"><\/span>Section 80C Benefit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you have taken loans from friends or relatives then only interest is allowed under Section 24(b) as you cannot claim principal repayment (Section 80C up to \u20b91.5 lakh) benefit. Here, the principal repayment benefit applies only to loans from banks, housing finance companies and employer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You can save tax on the interest paid for a housing-purpose loan from friends or relatives, but you must have adequate legal and financial documentation. However, only interest is deductible\u2014not principal repayment\u2014and the benefit varies depending on whether your house is self-occupied or let-out, and which tax regime you choose.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/\">Click Here<\/a> To Know Home Loan Tax Benefits FY 2024-25<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1754726897079\"><strong class=\"schema-faq-question\">Who can claim tax deductions on home loans?<\/strong> <p class=\"schema-faq-answer\">Individuals who have taken a home loan for purchasing, constructing, or renovating a residential property can claim tax deductions on interest under Section 24(b).<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1754726912508\"><strong class=\"schema-faq-question\">Are there additional deductions for first-time homebuyers?<\/strong> <p class=\"schema-faq-answer\">Yes, first-time homebuyers can claim additional interest deduction up to Rs.50,000 under Section 80EE or up to Rs.1.5 lakh under Section 80EEA if loan taken from bank.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1754726930934\"><strong class=\"schema-faq-question\">Are tax benefits available under the new tax regime?<\/strong> <p class=\"schema-faq-answer\">Under the new regime, most home loan tax benefits like Sections 80C and 24(b) are not available, except for interest on let-out properties.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1754726946213\"><strong class=\"schema-faq-question\">Is it possible to claim both House Rent Allowance (HRA) and home loan tax benefits?<\/strong> <p class=\"schema-faq-answer\">Yes, individuals receiving HRA and paying interest on a home loan can claim benefits on both, provided specific conditions such as not owning another property in the same city are met.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Many individuals think that tax benefits on loans are only available from a bank or housing finance company, but this [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Know How You Can Claim Home Loan Benefits from Friends and Family - Tax Guide<\/title>\r\n<meta name=\"description\" content=\"Know how to save tax on the interest paid on home loans from friends or relatives with proper documentation.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Know How You Can Claim Home Loan Benefits from Friends and Family - Tax Guide\" \/>\r\n<meta property=\"og:description\" content=\"Know how to save tax on the interest paid on home loans from friends or relatives with proper documentation.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Tax Guide\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/caclubindia\" \/>\r\n<meta property=\"article:published_time\" content=\"2025-08-09T08:25:16+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2025-08-09T08:25:19+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2025\/08\/home-loan-exemption.png\" \/>\r\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\r\n\t<meta property=\"og:image:height\" content=\"630\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\r\n<meta name=\"author\" content=\"Ram Sharma\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@caclubindia\" \/>\r\n<meta name=\"twitter:site\" content=\"@caclubindia\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ram Sharma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/\"},\"author\":{\"name\":\"Ram Sharma\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#\\\/schema\\\/person\\\/96b5cab03947b2dc45eb60ac3a8cdacd\"},\"headline\":\"Know How You Can Claim Home Loan Benefits from Friends and Family\",\"datePublished\":\"2025-08-09T08:25:16+00:00\",\"dateModified\":\"2025-08-09T08:25:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/\"},\"wordCount\":644,\"publisher\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2025\\\/08\\\/home-loan-exemption.png\",\"articleSection\":[\"Income Tax\"],\"inLanguage\":\"en-US\"},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/\",\"name\":\"Know How You Can Claim Home Loan Benefits from Friends and Family - Tax Guide\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2025\\\/08\\\/home-loan-exemption.png\",\"datePublished\":\"2025-08-09T08:25:16+00:00\",\"dateModified\":\"2025-08-09T08:25:19+00:00\",\"description\":\"Know how to save tax on the interest paid on home loans from friends or relatives with proper documentation.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#breadcrumb\"},\"mainEntity\":[{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726897079\"},{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726912508\"},{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726930934\"},{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726946213\"}],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2025\\\/08\\\/home-loan-exemption.png\",\"contentUrl\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2025\\\/08\\\/home-loan-exemption.png\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Know How You Can Claim Home Loan Benefits from Friends and Family\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#website\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/\",\"name\":\"Tax Guide\",\"description\":\"All tax related info news and updates in one place.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#organization\",\"name\":\"CAclubindia\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cropped-icon-384x384-1.png\",\"contentUrl\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cropped-icon-384x384-1.png\",\"width\":512,\"height\":512,\"caption\":\"CAclubindia\"},\"image\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/caclubindia\",\"https:\\\/\\\/x.com\\\/caclubindia\",\"https:\\\/\\\/www.instagram.com\\\/caclubindia\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/caclubindia\\\/\",\"https:\\\/\\\/www.youtube.com\\\/caclubindia?sub_confirmation=1\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#\\\/schema\\\/person\\\/96b5cab03947b2dc45eb60ac3a8cdacd\",\"name\":\"Ram Sharma\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cf5d44bd8d68d9d9aa2a1e2b40cdac941d69cd17a23bcc0bb394236f6d333496?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cf5d44bd8d68d9d9aa2a1e2b40cdac941d69cd17a23bcc0bb394236f6d333496?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cf5d44bd8d68d9d9aa2a1e2b40cdac941d69cd17a23bcc0bb394236f6d333496?s=96&d=mm&r=g\",\"caption\":\"Ram Sharma\"},\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/author\\\/ramauthor\\\/\"},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726897079\",\"position\":1,\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726897079\",\"name\":\"Who can claim tax deductions on home loans?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Individuals who have taken a home loan for purchasing, constructing, or renovating a residential property can claim tax deductions on interest under Section 24(b).\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726912508\",\"position\":2,\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726912508\",\"name\":\"Are there additional deductions for first-time homebuyers?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Yes, first-time homebuyers can claim additional interest deduction up to Rs.50,000 under Section 80EE or up to Rs.1.5 lakh under Section 80EEA if loan taken from bank.\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726930934\",\"position\":3,\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726930934\",\"name\":\"Are tax benefits available under the new tax regime?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Under the new regime, most home loan tax benefits like Sections 80C and 24(b) are not available, except for interest on let-out properties.\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726946213\",\"position\":4,\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-interest-tax-exemption\\\/#faq-question-1754726946213\",\"name\":\"Is it possible to claim both House Rent Allowance (HRA) and home loan tax benefits?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Yes, individuals receiving HRA and paying interest on a home loan can claim benefits on both, provided specific conditions such as not owning another property in the same city are met.\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Know How You Can Claim Home Loan Benefits from Friends and Family - Tax Guide","description":"Know how to save tax on the interest paid on home loans from friends or relatives with proper documentation.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/","og_locale":"en_US","og_type":"article","og_title":"Know How You Can Claim Home Loan Benefits from Friends and Family - Tax Guide","og_description":"Know how to save tax on the interest paid on home loans from friends or relatives with proper documentation.","og_url":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/","og_site_name":"Tax Guide","article_publisher":"https:\/\/www.facebook.com\/caclubindia","article_published_time":"2025-08-09T08:25:16+00:00","article_modified_time":"2025-08-09T08:25:19+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2025\/08\/home-loan-exemption.png","type":"image\/png"}],"author":"Ram Sharma","twitter_card":"summary_large_image","twitter_creator":"@caclubindia","twitter_site":"@caclubindia","twitter_misc":{"Written by":"Ram Sharma","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#article","isPartOf":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/"},"author":{"name":"Ram Sharma","@id":"https:\/\/www.caclubindia.com\/guide\/#\/schema\/person\/96b5cab03947b2dc45eb60ac3a8cdacd"},"headline":"Know How You Can Claim Home Loan Benefits from Friends and Family","datePublished":"2025-08-09T08:25:16+00:00","dateModified":"2025-08-09T08:25:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/"},"wordCount":644,"publisher":{"@id":"https:\/\/www.caclubindia.com\/guide\/#organization"},"image":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#primaryimage"},"thumbnailUrl":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2025\/08\/home-loan-exemption.png","articleSection":["Income Tax"],"inLanguage":"en-US"},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/","url":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/","name":"Know How You Can Claim Home Loan Benefits from Friends and Family - Tax Guide","isPartOf":{"@id":"https:\/\/www.caclubindia.com\/guide\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#primaryimage"},"image":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#primaryimage"},"thumbnailUrl":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2025\/08\/home-loan-exemption.png","datePublished":"2025-08-09T08:25:16+00:00","dateModified":"2025-08-09T08:25:19+00:00","description":"Know how to save tax on the interest paid on home loans from friends or relatives with proper documentation.","breadcrumb":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726897079"},{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726912508"},{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726930934"},{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726946213"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#primaryimage","url":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2025\/08\/home-loan-exemption.png","contentUrl":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2025\/08\/home-loan-exemption.png","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.caclubindia.com\/guide\/"},{"@type":"ListItem","position":2,"name":"Know How You Can Claim Home Loan Benefits from Friends and Family"}]},{"@type":"WebSite","@id":"https:\/\/www.caclubindia.com\/guide\/#website","url":"https:\/\/www.caclubindia.com\/guide\/","name":"Tax Guide","description":"All tax related info news and updates in one place.","publisher":{"@id":"https:\/\/www.caclubindia.com\/guide\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.caclubindia.com\/guide\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.caclubindia.com\/guide\/#organization","name":"CAclubindia","url":"https:\/\/www.caclubindia.com\/guide\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.caclubindia.com\/guide\/#\/schema\/logo\/image\/","url":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/cropped-icon-384x384-1.png","contentUrl":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/cropped-icon-384x384-1.png","width":512,"height":512,"caption":"CAclubindia"},"image":{"@id":"https:\/\/www.caclubindia.com\/guide\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/caclubindia","https:\/\/x.com\/caclubindia","https:\/\/www.instagram.com\/caclubindia\/","https:\/\/www.linkedin.com\/company\/caclubindia\/","https:\/\/www.youtube.com\/caclubindia?sub_confirmation=1"]},{"@type":"Person","@id":"https:\/\/www.caclubindia.com\/guide\/#\/schema\/person\/96b5cab03947b2dc45eb60ac3a8cdacd","name":"Ram Sharma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/cf5d44bd8d68d9d9aa2a1e2b40cdac941d69cd17a23bcc0bb394236f6d333496?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/cf5d44bd8d68d9d9aa2a1e2b40cdac941d69cd17a23bcc0bb394236f6d333496?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cf5d44bd8d68d9d9aa2a1e2b40cdac941d69cd17a23bcc0bb394236f6d333496?s=96&d=mm&r=g","caption":"Ram Sharma"},"url":"https:\/\/www.caclubindia.com\/guide\/author\/ramauthor\/"},{"@type":"Question","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726897079","position":1,"url":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726897079","name":"Who can claim tax deductions on home loans?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Individuals who have taken a home loan for purchasing, constructing, or renovating a residential property can claim tax deductions on interest under Section 24(b).","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726912508","position":2,"url":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726912508","name":"Are there additional deductions for first-time homebuyers?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, first-time homebuyers can claim additional interest deduction up to Rs.50,000 under Section 80EE or up to Rs.1.5 lakh under Section 80EEA if loan taken from bank.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726930934","position":3,"url":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726930934","name":"Are tax benefits available under the new tax regime?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Under the new regime, most home loan tax benefits like Sections 80C and 24(b) are not available, except for interest on let-out properties.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726946213","position":4,"url":"https:\/\/www.caclubindia.com\/guide\/home-loan-interest-tax-exemption\/#faq-question-1754726946213","name":"Is it possible to claim both House Rent Allowance (HRA) and home loan tax benefits?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, individuals receiving HRA and paying interest on a home loan can claim benefits on both, provided specific conditions such as not owning another property in the same city are met.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/posts\/2632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/comments?post=2632"}],"version-history":[{"count":1,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/posts\/2632\/revisions"}],"predecessor-version":[{"id":2635,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/posts\/2632\/revisions\/2635"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/media\/2634"}],"wp:attachment":[{"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/media?parent=2632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/categories?post=2632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/tags?post=2632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}